--- SEARCH ---
WEATHER
CHINA
INTERNATIONAL
BUSINESS
CULTURE
GOVERNMENT
SCI-TECH
ENVIRONMENT
SPORTS
LIFE
PEOPLE
TRAVEL
WEEKLY REVIEW
Film in China
War on Poverty
Learning Chinese
Learn to Cook Chinese Dishes
Exchange Rates
Hotel Service
China Calendar
Trade & Foreign Investment

Hot Links
China Development Gateway
Chinese Embassies

Commission Rejects Share Issue Request

China Securities Regulatory Commission (CSRC) has rejected the application of real estate company Beijing Capital Land to issue up to 1.2 billion A shares.

The Beijing-based company announced on Friday that it had received a verbal notice from the securities watchdog that its A share issue proposal was turned down.

"CSRC did not give an explanation for the rejection, so we were not sure of the reason," a company spokeswoman said yesterday.

However, she said that the State seeking to maintain macro economic control might have impacted on the decision.

As the authorities tightened the credit tap to sectors including real estate in an attempt to cool down the economy since the second half of last year, it has been harder for real estate companies to acquire funding.

But the company would try the A share listing later, she said.

The refinancing plan of Beijing Capital Land, a subsidiary of the State-owned Beijing Capital Group and a flagship in Beijing's real state business, came one year after its initial public offering (IPO) in Hong Kong last June.

It announced in February that it would apply to come back to the mainland capital market and issue up to 1.2 billion A shares to raise about 3 billion yuan (US$362 million).

As proposed, the proceeds would be used to develop its property projects in Beijing, which mainly include a commercial center and a commercial and residential complex in the downtown.

These two projects are comparatively developed and have relevant land use certificates, so they can seek other financing channels even without the funding from the stock market, the company spokeswoman said.

Partnership with foreign strategic investors is also a means of financing. Singapore's GIC Real Estate Pte Ltd, who holds 9.8 percent in Beijing Capital Land, has been jointly developing two luxurious housing projects in Beijing with the company.

However, some analysts also said that it is still uncertain whether the authorities' control on funding supplies to some overheating sectors is the major reason for CSRC's rejection on the A share offering application of Beijing Capital Land.

"We can still see some real estate companies have had their financing proposals passed over during the past six months," said Zhang Yan, an analyst with China Securities Co.

Some launched IPOs and some were allowed to issue additional shares and convertible bonds.

So it is possible that Beijing Capital Land may have failed to meet some A share issue criteria, though that is uncertain too, Zhang said.

(China Daily July 27, 2004)

Print This Page
|
Email This Page
About Us SiteMap Feedback
Copyright © China Internet Information Center. All Rights Reserved
E-mail: webmaster@china.org.cn Tel: 86-10-68326688
主站蜘蛛池模板: 亚洲精品中文字幕麻豆| 国产裸体歌舞一区二区| 国产精品亚洲综合五月天| 久久中文字幕人妻丝袜| 欧美边吃奶边爱边做视频| 国产乱叫456在线| 两个小姨子完整版| 欧美亚洲欧美日韩中文二区| 又粗又紧又湿又爽a视频| www.亚洲一区| 欧美精品第欧美第12页| 国产极品视觉盛宴| 久久久久亚洲AV无码专区网站| 精品欧美一区二区三区精品久久| 国产精品亚洲五月天高清| 一级成人毛片免费观看| 毛片a级毛片免费播放下载| 国产片免费在线观看| 久久av高潮av无码av喷吹| 欧美最猛黑人xxxx黑人猛交3p| 国产成人精品男人的天堂网站| videofree极品另类| 欧美成人一区二区三区在线视频| 吃奶呻吟打开双腿做受动态图 | 国产小视频免费观看| 中文字幕成熟丰满人妻| 欧美一级二级三级视频| 健身私教干了我好几次| 亚洲一二区视频| 天天爱天天做天天爽| 久久久久99精品成人片欧美| 欧美性高清在线视频| 免费国产污网站在线观看| 野花社区视频www| 国产精品久久久久三级| bl道具play珠串震珠强迫| 欧美一级片观看| 免费**毛片在线播放直播| 色综合天天综合网国产成人网| 天天插在线视频| 中文字幕被公侵犯的漂亮人妻|