The Chinese hypermarket giant plans a huge capital injection

The Sun Art Chinese hypermarket chain prepares for a 1.1 billion USD primary share issue in Hong Kong. The dominant owner of the company is the French Auchan.

The Shanghai-based company – a competitor of Wal-Mart – scheduled to issue 1.14 billion shares between 5.65 and 7.2 Hong Kong dollars.
The Sun Art last year, beside its 56.2 billion yuan revenue had a profit of 1 billion yuan (155 million dollars) – writes tozsdeforum.hu.