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Suzhou Industrial Park developer raises 1.36b yuan in IPO
China-Singapore SIP Development Group is master developer for the Singapore-China collaborative area
SAT, DEC 21, 2019 - 5:50 AM
SHARON SEE
BT_20191221_SSSIP21A_3984016.jpg The development of the China-Singapore Suzhou Industrial Park started from the west bank of Jinji Lake (above). Over the years, the lake developed into a vibrant Central Business District that boasts a mixture of development spanning commercial, residential and cultural uses. PHOTO: SUZHOU INDUSTRIAL PARK ADMINISTRATIVE COMMITTEE
Singapore
THE joint-venture company that developed the China-Singapore Suzhou Industrial Park (SIP) has raised 1.36 billion yuan (S$262 million) in an initial public offering (IPO) that took nearly 15 years to bring to fruition.
The China-Singapore SIP Development Group Co (CSSD), formed in August 1994, is the master developer for the 80 square kilometre Singapore-China collaborative area in the SIP, the first such government-to-government project between both countries.
Nearly 150 million shares were issued to much fanfare, and share prices leapt nearly 44 per cent within minutes after open to hit 13.92 yuan on Friday.
China-Singapore SIP Development Group is master developer for the Singapore-China collaborative area
SAT, DEC 21, 2019 - 5:50 AM
SHARON SEE
BT_20191221_SSSIP21A_3984016.jpg The development of the China-Singapore Suzhou Industrial Park started from the west bank of Jinji Lake (above). Over the years, the lake developed into a vibrant Central Business District that boasts a mixture of development spanning commercial, residential and cultural uses. PHOTO: SUZHOU INDUSTRIAL PARK ADMINISTRATIVE COMMITTEE
Singapore
THE joint-venture company that developed the China-Singapore Suzhou Industrial Park (SIP) has raised 1.36 billion yuan (S$262 million) in an initial public offering (IPO) that took nearly 15 years to bring to fruition.
The China-Singapore SIP Development Group Co (CSSD), formed in August 1994, is the master developer for the 80 square kilometre Singapore-China collaborative area in the SIP, the first such government-to-government project between both countries.
Nearly 150 million shares were issued to much fanfare, and share prices leapt nearly 44 per cent within minutes after open to hit 13.92 yuan on Friday.
