Friday, March 07, 2008

CSCEC to launch A-share IPO in Q2

China State Construction Engineering Corp (CSCEC) on Friday said it plans to launch A-share listing in the second quarter of this year.

The company has submitted IPO application to China's State-owned Assets Supervision and Administration Commission for approval, sources reported citing deputy general manager Guo Tao as saying. It is eyeing a group listing, including all divisions and overseas assets, the report said without commenting whether the plan will influence its HK-listed subsidiaries.

Currently, it already owns two companies listed in the Hong Kong stock market, namely China Overseas Land & Investment Ltd<688> and China State Construction International Holdings Ltd<3311>.

CSCEC, a state-owned enterprise established in 1982, operates actively in both domestic and overseas markets with construction and real estate as its core businesses.

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