Real estate in China is expensive. This fact presents a policy challenge to the government, which has issued a series of regulations over recent months designed to rein in prices. The 12th five year plan, which was issued in March, stated the intention to construct 36 million new units of “affordable” housing over the coming five-year period, to help combat the affordability problem.
Whatever happens to prices, it seems that investors remain keen to invest in real estate and construction companies, which in March made their presence felt on the capital markets.
At the beginning of the month, BBMG Corporation listed A-shares in Shanghai and simultaneously merged with Taihang Cement, offering 1.2 shares for each existing share in Taihang. BBMG has listed H-shares in Hong Kong since 2009, and is the first company in 2011 to achieve a dual A-share and H-share listing. BBMG has four main lines of business: cement, new building materials, real estate development, and property investment and management. Guantao Law Firm acted as legal adviser to the sponsor, BOC International.
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