Shanghai Forte Land plans A-share Shanghai listing

HONG KONG, Aug 14 (Reuters) - Shanghai Forte Land 2337.HK said late on Thursday that it aimed to list in Shanghai through an issue of 285 million A shares.

The Chinese property firm said it would apply to the China Securities Regulatory Commission and seek shareholders’ approval for listing of A shares on the Shanghai Stock Exchange at a price to be determined by market conditions at the time.

Proceeds from the sale of the A-shares will be used to fund property development projects and to replenish working capital, the company added. For a statement, please click here

Shares of Shanghai Forte have risen about 95 percent so far this year to end at HK$2.42 on Thursday, outperforming a roughly 45 percent rise in the benchmark index .HSI. (US$1=HK$7.75) (Reporting by Donny Kwok; editing by Ken Wills)