Shanghai Forte Land plans up to RMB 1 billion short-term notes issue

By Jennifer Chiou

New York, Jan. 26 - Shanghai Forte Land Co., Ltd. said its board approved an issue of up to RMB 1 billion of short-term notes to be sold to institutional investors in China.

The notes will mature within one year.

The offer is subject to shareholder approval at a March 26 meeting.

Proceeds will go towards working capital.

Based in China, Shanghai Forte Land develops and sells residential property.

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