Stocks News
- Shangshe Group eyes HK IPO
Date: 28-Feb-2007 Sources: (Shenzhen Daily)
SHANGSHE Group, a State-owned conglomerate based in the southwestern Chinese city of Chongqing and with investments ranging from department stores to hotels, is considering listing in Hong Kong this year, a city official said.
Huang Qifan, vice mayor of Chongqing, told a news conference that Shangshe, also known as Chongqing General Trading Group, was one of the three major companies from the municipality looking into an initial public offering (IPO) in Hong Kong this year. The group had total assets of 6.5 billion yuan (US$839 million) at the end of 2005, with turnover of 15 billion yuan that year, according to its Web site. The other two firms considering Hong Kong listings are Chongqing City Commercial Bank and Chongqing Machinery & Electronics Holdings (Group), Huang said.
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