Shanghai: The China Securities Regulatory Commission has given the thumbs up to China Shipbuilding Industry Corp (CSIC)'s plans to list in Shanghai. The northern state run yard conglomerate will sell nearly 2bn shares, equivalent to 30% of its share capital, in a public offer that could raise up to Yuan6.4bn ($947m). This is the latest cash raising exercise for the fast expanding group which last December released Yuan3bn of medium-term notes, and last September it also sold Yuan 3.5bn of bonds. [28/07/09]
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