Shanghai Jin Jiang seals US$311 million IPO

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clpstaff

Shanghai Jin Jiang International Hotels (Group) has raised US$311 million from a global initial public offering. Shares were expected to begin trading…

Shanghai Jin Jiang International Hotels (Group) has raised US$311 million from a global initial public offering. Shares were expected to begin trading on the Hong Kong stock exchange on December 15 2006.

Shanghai Jin Jiang is China's largest hotel corporation with operations and franchises in more than 73 cities. The strategic investors for this deal are Starwood Capital (founder of Starwood Hotels and Resorts Worldwide), the chairman of Bank of East Asia and Bank of China Group Investment.

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