Stocks News
- Shenzhen Overseas group listing approved
Date: 8-Nov-2007 Sources: (Shenzhen Daily)
THE State-owned assets regulator has approved Shenzhen Overseas Chinese Town Group's plan to seek a stock market listing through the group's Shenzhen-listed arm, Shenzhen Overseas Chinese Town Holdings Co.
The listed firm said yesterday that the group plans to achieve a group listing by injecting its property and hotel assets into the holding company. The group is engaged in property development, telecom equipment manufacturing and hotel businesses. The holding company focuses on tourism. The group's assets include a 60 percent stake in Shenzhen Overseas Chinese Town Properties Co. (OCT Properties), which is also 40 percent-held by the holding company, and 100 percent of Hong Kong Overseas Chinese Town Co. The group will also inject an 82 percent stake in Shenzhen Overseas Chinese Town Hotels (Group) Co., which is 18 percent-held by OCT Properties, into the holding company.
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