Jinling Hotel, a local hotel group in Nanjing, is planning for a public offering on a domestic stock market.

Currently, the Department of Development and Auditing of the China Securities Regulatory Commission is auditing Jinling's application for the IPO. If it passes the review, Jinling Hotel will be the first hotel in Jiangsu Province to be listed on the stock market.

According to their application, the name that they are planning to use on the stock market will be Jinling Hotel Limited Company, but Jinling Hotels Group won't be listed on stock market directly this time. After being listed on the stock market, Jinling Hotel will issue 150 billion shares, which will total 44.12% of its outstanding stock. And all the money they collect from these stocks will be used for their expansion project which is estimated to be about RMB1.047 billion.

Competition for high star-grade hotels in China has heightened, especially in eastern China. There will be 3-5 new 5-star hotels in Nanjing in the next three years, and facing the great challenge from the market, Jinling Hotel has to expand itself and find capital quickly to meet its challenges.