China Real Estate Opportunities (CREO), a newly-formed company controlled by property developers Richard Barrett and Johnny Ronan, is expected to begin dealing on London's AIM on Thursday.
Other shareholders in CREO, a shell company that has been set up to target real estate opportunities in China, include the Irish-listed property group Real Estate Opportunities (REO) and its chairman, Ray Horney.
CREO, which has raised €23 million ahead of its flotation, is believed to be the largest cash shell listed on AIM.
The company now intends to identify proposals and use the funds raised to arrange conditional contracts. "The Chinese real estate market currently offers enormous opportunities, particularly in its major cities, which are undergoing unprecedented growth," Mr Horney said.
In addition to Shanghai, which is the fastest-growing city and main business hub in mainland China, CREO is expected to look closely at opportunities in the capital, Beijing.
CREO will be able to use Treasury Holdings existing presence in Shanghai, where it has an office with 12 employees, to gain a foothold in the Chinese market.
Earlier this year, Treasury signed a joint-venture deal with a Chinese firm to develop a 900- acre site close to Shanghai in an investment worth €1.2 billion.
The joint-venture company plans to develop a mix of retail, residential, office, leisure and conference facilities on an island north of Shanghai.
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