BUILDING materials supplier BSC Group is moving closer to a flotation, having made a formal application to the stock exchange.
The company, which has for some time sought a listing, hopes to use some of the funds from its new issue to enter the fast-growing building industry in China.
BSC executive director Jenny Lau said that with heavy investment by Hongkong developers in retail and residential developments, the mainland industry was set to take off in the near future.
BSC's turnover is expected to reach $570 million in the year to March 31, compared with $510 million and $460 million in the previous two years.
Mrs Lau said the company planned to set up representative offices in Beijing, Dalian, Guangzhou and the Pearl River delta centre of Panyu.
An interior decoration contract worth more than $10 million had been secured for the entertainment facilities at the Gingguang Centre in Beijing, she added.