Editorial Summary

China's building engineering construction contractor Zhong-Tie Construction Group Corporation Limited plans to list in Shanghai and Hong Kong in March 2008, following China Railway's (601390.SH; 0390.HK) A-share and H-share listing in early December 2007, reports Shanghai Securities Journal quoting an unnamed source. Zhong-Tie plans to sell 2.8 billion A-shares and two billion H-shares to raise approximately RMB25 billion, said the report. The fund will be spent to purchase equipment, increase productivity and upgrade technology. The price for A-shares will be set between RMB4-5 per share and H-shares might be sold at least HK$5 per share, according to the report. Zhong-Tie hit RMB150 billion in revenue in 2007 and has applied for listing to the China Securities Regulatory Commission (CSRC). Citic Securities (600030.SH), Citi Group and Macquarie Bank will be the underwriters.

Also, China's largest building contractor China Construction Holdings plans to go public on the Shanghai Stock Exchange in April 2008, said the report. The company was set up in late 2007, holding assets from China State Construction Engineering Corporation (CSCEC).