SPG Land, a Shanghai-based property developer and Computime, an electronic control products maker, have been given preliminary regulatory approval to raise a combined 2.3 billion HK dollars (287.5 million US dollars) on the main board, The Standard reported, citing market sources. SPG Land is wholly owned by Australian property developer Starwaly Properties (Group) and started to move in on Shanghai property in 1999. Macquarie Bank and DBS Asia Capital will handle the share sale, said the paper. Computime was given the green light in principle late Thursday, by the Hong Kong stock exchange listing committee. Computime, which makes electronic control products for residential and industrial uses, aims to launch pre- marketing next week. Computime plans to list by end September, people familiar with the situation said. The Hong Kong-based company is expected to raise 700 million HK dollars (87.5 million US dollars). JPMorgan is the sponsor.