China Information

Saturday, January 13, 2007

Standard Chartered Bank invests US$35 million in Sino-Ocean Real Estate

England's Standard Chartered Bank said on Wednesday that its private capital operation subsidiary has invested 35 million US dollars in China's real estate developer Sino-Ocean Real Estate Development Co., Ltd. COSCO International Holdings Limited holds 44% share of Sino-Ocean Real Estate Development Co.Ltd.Sino-Ocean Real Estate develops luxury residential and office buildings in Beijing and some other mainland cities. The company is planning for an IPO in Hong Kong. According to local media, the company is likely to offer IPO in the third quarter.Standard Chartered did not reveal how much share it has got for the above mentioned 35 million US dollars. This is also the company's latest investment in China's burgeoning real estate market. Prior to this it already made investment in Shimao Real Estate Co.Ltd listed in Hong Kong last year and Green City China Holdings Limited.

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