Shui On Land Ltd, the property flagship of the Shui On Group in China, said it seeks to raise up to 6.2 billion HK dollars ((794.87 million US dollars) in an initial public offering being relaunched in Hong Kong following its postponement in June, The Wall Street Journal reported. 'It has always been our clear strategy to take Shui On Land public. We believe that now is the right time to push ahead with our earlier plan as obtaining a listed status will position Shui On Land to seize expansion opportunities and drive our next stage of growth,' said the paper, quoted Vincent H.S. Lo, chairman and chief executive officer, as saying. 'We have decided, however, to be prudent at this stage and reduce the size of the global offering as we do not want to undersell the company,' Lo said. Shui On Land is selling 10 percent of the IPO shares in a public offering in Hong Kong and the rest to institutions and other professional investors.