CHINESE HOME BUILDER DEBUTS NYSE
AsiaInfo Services, December, 2007
AsiaInfo Services 12-14-2007 Chinese Home Builder Debuts NYSE ZHENGZHOU, Dec 14, 2007 (SinoCast via COMTEX) -- Chinese home builder Xinyuan Real Estate Inc. floated shares on the New York Stock Exchange from December 12, 2007 under the ticker symbol of XIN. The company is expected to raise approximately USD 245 million via offering a total of 17.5 million American Depositary Shares, which are equivalent to 30 million of its ordinary shares, at the price of USD 14 apiece in an initial public offering on the US bourse. Besides, it has granted an option to underwriters to subscribe 2.625 million more ADSs within 30 days after the IPO. The proceeds will be mainly used to expand its land reserves, apart from enriching its working capital. Merrill Lynch served as...
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