Cartoons

Betting on the house

Building the world’s biggest IPO...

If it is true to form, this is a stock market listing that could well go through the roof.

The world’s biggest IPO this year is set to be China’s biggest builder – China State Construction Engineering Corp – which was given the go-ahead this week to launch a Rmb42.6 billion ($6.2 billion) stock offering. The firm, which built the Bird’s Nest Olympic Stadium in Beijing, is a proxy for China’s growing economy, and particularly the resuscitated real estate sector. The fact that such a jumbo listing has been approved also shows returning confidence in the stock market (see Talking Point, WiC21). There is another landmark too – it’s the first time that the year’s biggest IPO will occur in Shanghai, rather than in


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