Autor Tema: CSRC to r4i suppliers review China Int'l Travel Service's IPO application  (Posjeta: 3430 vremena)

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CSRC to  r4i suppliers review China Int'l Travel Service's IPO application

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CSRC to review China Int'l Travel Service's IPO applicationPublished: 16 Jul 2009 18:43:12 PST<p class="authorInfor"]</p]<!--begin CK content--]<ul class="narrow"]Top 5 News From ChinaKnowledge.comBYD resurrects plans for A-share IPOChina's retail sales up 15% in H1KFC signs RMB 5-bln chicken deal with 3 Chinese suppliersWhirlpool's China JV launches productionChinese stocks open 0.08% lower on Fri<P]Jul. 17, 2009 (China Knowledge) - The China Securities Regulatory Commission will review an initial public offering application submitted by China International Travel Service, the largest comprehensive travel agency in China, on Jul. 20, according to an announcement posted on the CSRC's website.</P]<P]China International Travel plans to raise RMB 1.7 billion through selling up to 220 million A shares on the Shanghai Stock Exchange.</P]<P]The proceeds of the new share offering will be used to fund new projects, including an online travel business.</P]<P]China Securities Co Ltd has been assigned as the underwriter. </P]<P]CSRC, the country's stock market watchdog, recently resumed reviewing IPO applications after it stopped doing so since last September. </P]<P]On Wednesday, CSRC gave the nod to a new IPO. Anhui Xinlong Electrical Co, an electric equipment manufacturer located in East China's Anhui Province, was approved to issue around 28 million shares on the Shenzhen Stock Exchange to raise up to RMB 165 million, China Knowledge reported earlier.</P]<P]In March this year, China International Travel obtained the approval from the China National Tourism Administration to open a branch in Ningbo City, Zhejiang Province.</P]<P]The new branch aims to explore the higher profit margin travel market in the city and to bring more foreign guests to local resorts through the company's experienced marketing and advanced networks.</P]<P]</P]
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