Stocks News
- Shanghai Forte plans to sell A shares
Date: 26-Feb-2007 Sources: (Shenzhen Daily)
SHANGHAI Forte Land Co., a Hong Kong-listed property developer, plans to sell yuan-denominated A shares to raise funds for real-estate projects.
The company plans to ask for regulatory approval to issue as many as 126.4 million A shares, it said in a statement yesterday. Forte may consolidate every five Hong Kong-listed and its A shares into one share because the China Securities Regulatory Commission generally requires shares to have a nominal value of 1 yuan (US$0.13), the statement said.
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