China State Construction Engineering Corporation Limited (“CSCEC”) successfully announced its non-public preference shares offering (“the Offering”) on Mar.7th, 2015, which has been listed on the Shanghai Stock Exchange since Mar.20th, 2015. The type of securities under the issuance was preference shares issued in the PRC. A total of 150 million shares were offered, raising proceeds of RMB 15Bn. Adjustment of the dividend rate will be conducted every five years, and the starting rate during the initial five years is decided at 5.80% through book-building procedure. The preference shares is rated AA. CICC acted as Sole sponsor and Joint Underwriter in this deal, which marks the first preference shares transaction by CICC as sponsor, the first domestic preference shares transaction by non-financial SOEs, as well as the largest preference shares transaction by non-financial enterprises.