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China State Construction gets IPO approval

(Xinhua)
Updated: 2009-07-11 10:55

China State Construction Engineering Corporation (CSCEC), China's construction and real estate giant, has obtained regulator approval to get listed in Shanghai stock market.

Special Coverage: Restart of IPO Related readings:  Guilin Sanjin sets the China IPO ball rolling  Sichuan Expressway IPO coming  Greenland fuels IPO dreams with Beijing debut  BaWang IPO debut set to shower money on founder couple

The China Securities Journal reported Saturday that CSCEC would become the fifth company to start initial public offering (IPO) on the Chinese mainland since the China Securities Regulatory Commission (CSRC) resumed IPO last month.

The prospectus would be published on Monday. The company planned to issue 12 billion shares, raising 42.6 billion yuan ($6.26 billion), the largest flotation among the five, said the newspaper.

CSCEC is China's largest home builder, with business ranging from housing construction, international project contracting, real estate developing, and infrastructure building.