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Updated Saturday, July 25, 2009 1:01 pm TWN, Bloomberg

State Construction raises US$7.3 billion in China IPO

SHANGHAI -- China State Construction Engineering Corp., the nation's largest housing contractor, raised 50.16 billion yuan (US$7.3 billion) in Shanghai in the world's biggest initial public offering in 16 months. The 12 billion shares were sold to investors at 4.18 yuan each, top of the range, according to a filing to the Shanghai Stock Exchange Thursday.

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