(Yicai Global) Dec. 6 -- Red Star Macalline Home Furniture Group Plc, a leading furniture enterprise in China, has seen its listing plan on the A-share market approved by the China Securities Regulatory Commission (CSRC), the company said today.
Red Star Macalline previously announced to issue no more than 315 million shares in the A-share market. However, the company has not received the written approval from CSRC and will make further announcements in a timely manner, it added.
Red Star Macalline Group Corp., the parent company, floated in the Hong Kong Stock Exchange in June 2015, with a total share capital of 3.62 billion shares, of which 1.06 billion are in circulation. The company has been valued at HKD36.97 billion (USD4.7 billion), calculated on its closing price of HKD10.2 per share yesterday.
Founded in 1986, Red Star Macalline is the largest home decoration and furniture mall operator in China, with the largest pool of malls. It has registered a turnover of CNY9.28 billion (USD1.4 billion) last year.