Shanghai Greenland prepares for IPO in Hong Kong

Shanghai Greenland Group, the builder of mainland China's third-tallest tower, said it is planning to list a unit in Hong Kong this year as it seeks to enter the US property market.

The state-owned developer will set up a subsidiary in Hong Kong, which will include some of its assets abroad, and list the unit on the Hong Kong stock exchange this year, said chairman Zhang Yuliang, without giving a timetable. Zhang declined to say how much money the developer is looking to raise in the initial public offering of the unit that will focus on doing business in foreign countries.

via Business feed http://www.scmp.com/business/companies/article/1195017/shanghai-greenland-prepares-ipo-hong-kong