BEIJING — Reuters reports that China Flooring Holding Co. received $100 million in funding from Morgan Stanley and the International Finance Corp. (IFC), an arm of the World Bank, and now plans to take the company public.
The money will fund the development of plantation forests in the Jiangxi province to provide raw materials for China Flooring. The red-hot Chinese real estate sector has boosted demand for engineered and laminate flooring. Plans for the Initial Public Offering (IPO) to sell stock to global investors have not yet been announced.
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