** Shares of China Resources Mixc Lifestyle Services 1209.HK drop 9.2% to HK$41.9, on track for biggest one-day pct decline since April 7, and snapping three straight sessions of gains

** Chinese property management group says controlling shareholder China Resources Land 1109.HK plans sale of 49.5 mln company shares, or 2.17% of the share capital, to third party investors in share placement, reducing its stake in company to 70.12%

** China Resources Land said it will sell the shares at HK$41.70 apiece, or 9.6% discount to Wednesday's close of HK$46.12 each, raising HK$2.1 bln ($270.36 mln) for acquisition of land reserve, development costs and working capital

** Shares of China Resources Land slip 2.1% to HK$30.06, on track for the biggest one-day pct fall since October 30

** YTD, China Resources Mixc shares up 52.7%, China Resources Land up 34.6%, Hang Seng Mainland Properties Index .HSMPI up 15%

($1 = 7.7675 Hong Kong dollars)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))