Strong demand for Chinese shares among global investors has helped to fuel a record number of new offerings from the country this year.

Yesterday, the company, a Shanghai property developer, said in new statement at the Hong Kong Stock Exchange that it wouldn’t go ahead with the originally planned timetable for the offering in “light of the continued policy uncertainty surrounding the PRC property sector,” and “with the investors’ best interests in mind.”

CJ Land “will continue to review the market situation and further announcement(s) will be made at such time as a decision regarding a relaunch is reached,” it said.

Here’s a summary of CJ Land’s new announcement:

ANNOUNCEMENT

SUMMARY

In light of the continued policy uncertainty surrounding the PRC property sector, and with the investors’ best interests in mind, the Company, the Selling Shareholder and the Joint Global Coordinators (for themselves and on behalf of the Underwriters) have decided not to proceed with the Global Offering under the original timetable. Accordingly, the International Underwriting Agreement will not be entered into and the Hong Kong Underwriting Agreement will not become unconditional and will lapse. The Company will continue to
review the market situation and further announcement(s) will be made at such time as a decision regarding a relaunch is reached.

Application monies in respect of applications made on WHITE or YELLOW Application Forms for Hong Kong Public Offer Shares (including brokerage of 1.0%, SFC transaction levy of 0.003% and Hong Kong Stock Exchange trading fee of 0.005%) will be refunded
in full without interest by cheques by ordinary post on Tuesday, 9 November, 2010 at the applicants’ own risk.

Application monies in respect of applications made under White Form eIPO service for Hong Kong Public Offer Shares (including brokerage of 1.0%, SFC transaction levy of 0.003% and Hong Kong Stock Exchange trading fee of 0.005%) will be refunded in
full without interest. In the case of application monies paid from a single bank account, e-Refund payment instructions will be despatched to the respective application payment bank accounts on Tuesday, 9 November, 2010. In the case of application monies paid from multibank accounts, refund cheques will be despatched to the applicants’ address specified in their White Form eIPO application by ordinary post on Tuesday, 9 November, 2010 at the applicants’ own risk.

Applicants who applied for Hong Kong Public Offer Shares by giving electronic application instructions to HKSCC will have all amounts paid on application (including brokerage of 1.0%, SFC transaction levy of 0.003% and Hong Kong Stock Exchange trading fee of 0.005%) credited to their designated bank accounts or the designated bank accounts of their brokers or custodians without interest on Tuesday, 9 November, 2010.