Bejing, China, March 26, 2007--Shanghai Anxin Flooring plans to raise about $150 million from an initial public offering in the U.S. as early as the third quarter, the Wall Street Journal reported.
The company, in which private equity firm Carlyle Group has a stake, has yet to decide between the New York Stock Exchange or the Nasdaq market, the report said.
Carlyle in May paid 20 mln usd for an undisclosed stake in the company, the mainland's largest wood-flooring maker and distributor.
At the time, it said it planned to invest an additional 7.5 mln usd in the company by mid-2008.
