Hong Kong-listed Shanghai Forte Land is hoping to list in Shanghai through an issue of 285 million A-shares, Reuters reported. The firm intends to use the proceeds to fund property development and replenish working capital. Currently, the firm is still seeking approval from the China Securities and Regulatory Commission as well as shareholders. The price of the A-shares will be determined by market conditions at the time. Shanghai Forte’s H-shares have already risen 95% this year, closing at HK$2.42 (US$0.31) on Thursday.
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