Greenland eyes backdoor listing in Shanghai

Shanghai-based property developer Greenland Group is seeking a backdoor listing on the Shanghai Stock Exchange through buying Shanghai Jinfeng Investment Co Ltd, insiders were quoted as saying by SouFun Holding Ltd, one of China's largest real estate websites, on Tuesday.

Zhang Yuliang, president and chairman of Greenland Group, said such possibilities cannot be ruled out, but refused to comment on the insiders' comments, people.com reported.

Greenland has longed for a capital platform to support its rapid development. In May, it took control of Hong Kong-listed SPG Land Holdings Ltd through buying HK$3 billion ($386.8 million) worth of additional shares.