20 September 2018

Greenland eyes backdoor listing via Shanghai Jinfeng, paper says

Shanghai Jinfeng Investment Co. Ltd. (600606.CN) has announced that its major shareholder Shanghai Land (Group) Ltd. is in talks with property developer Greenland Group over a major asset reorganization, adding to speculation that Greenland Group may be seeking a backdoor listing on the Shanghai Stock Exchange through the acquisition of Shanghai Jinfeng, the China Securities Journal reported Thursday. Industry sources were quoted as saying that the asset reorganization could be officially announced by the end of this year as the central government has show signs of relaxing its grip on allowing property developers to seek financing and listing. Zhang Yuliang, president and chairman of Greenland Group, did not rule out the possibility but declined to comment further, the report said.

– Contact HKEJ at [email protected]



EJI Weekly Newsletter

Please click here to unsubscribe