China Communications Construction (1800.HKG) has won approval from the securities regulator for what could be the largest listing on the Shanghai Stock Exchange this year, the Wall Street Journal reported. The infrastructure company aims to raise RMB20 billion (US$3.1 billion) to take over CBRC International, a Shanghai-listed subsidiary, repay bank loans and fund certain projects, according to a statement by the China Securities Regulatory Commission. The offering comes as Chinese companies are finding it harder to sell shares in initial public offerings, traditionally a strong market on the mainland where investment options remain limited. Sinohydro Group, China’s largest builder of dams, said Thursday that it had priced its IPO shares at the low end of an indicative range, raising 20% less than an originally estimated RMB17.3 billion. Meanwhile, shares of automaker Great Wall Motor fell on their first day of trading Wednesday in Shanghai, in contrast to typical first-day trends.