CSCEC likely to make its market debut this week

SHANGHAI: China State Construction Engineering Corp (CSCEC), which raised 50.2 billion yuan of new capital in the world's largest IPO so far this year, will list its shares on the Shanghai Stock Exchange as early as this Wednesday, analysts said.

Nearly 6 million subscribers have received IPO allotment letters from CSCEC, a significantly higher ratio than earlier IPOs, thanks to the new distribution rules.

Analysts said the large size of the CSCEC IPO has gone down well with punters looking for quick gains planning to sell their allotments in the market at an expected higher price than the subscription price.