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Readers opinion
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26.05.2008
Shanghai Forte Plans A-Share IPO
Hong Kong-listed Shanghai Forte Land is poised to launch an A-share initial public offering (IPO) to raise up to 1.58 billion yuan to fund new developments, sources say.
The developer plans to sell 632 million shares and the listing application will be reviewed by China Securities Regulatory Commission as early as next month. The A shares may be offered at a 10% discount to its Hong Kong-listed H shares.
An analyst says if the listing is approved, it will show that the Mainland regulator still welcomes H-share listings in the belief that they can inject new vigour into the weak market.
Following Forte, Guangzhou R&F Properties will start its A-share sale process, of which the underwriter would be Citic Securities.
Source: SCMP
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ImpressMedia is an established British publishing house which over the past four years has created a series of real estate magazines in Russia. The most famous of these is Commercial Real Estate, which has become a strong brand in the Russian market, and serves as an important means of communication between suppliers and providers; as well as between real estate professionals seeking to widen their horizons. In 2003, ImpressMedia also started a yearly commercial real estate Awards ceremony, which has now become an integral part of the real estate world in Russia. John Harrison helped create 'Commercial Real Estate' magazine in Russia, and was its first editor, from November 2002 to August 2005. He has written about real estate for over a decade.
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