Stocks News
- Vanke wins share offer approval
Date: 16-Jul-2007 Sources: (Shenzhen Daily)
CHINA Vanke Co., the country's largest listed property developer, has won regulatory approval to issue new shares that would account for no more than one fifth of its total share capital.
The plan was approved by the China Securities Regulatory Commission on Friday, the regulator said. No details were given. Shenzhen-listed Vanke, which has a total market capitalization of US$18 billion, said in March it planned to issue new shares to fund 11 residential property projects that required total investment of 31.3 billion yuan (US$4.12 billion).
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