Builder set for mega float soon

China State Construction Engineering Corporation (China Construction), the country's largest home builder, has completed transferring 1.2 billion shares to the national pension fund and will be listed in Shanghai next month, in what would be the country's biggest IPO this year, people familiar with the matter said.

"China Construction is one of the eight State-owned companies that have completed the share transfer so far (in line with the government requirement)," said one person close to the State-owned Assets Supervision and Administration Commission (SASAC), the country's top State asset watchdog.

China Metallurgical Group, a Beijing-based resources and construction conglomerate, and China International Travel Service (CITS) Group, the country's top tour operator, are among the eight companies that have completed State-owned share transfers, the person said, without disclosing the names of the other companies.