China State Construction Engineering Corp (CSCEC) on Thursday set a price for its Shanghai IPO at the top of an indicated range, raising 50.16 billion yuan ($7.34 billion) in the world's largest public offering in more than a year.

The country's biggest home builder is selling 12 billion yuan-denominated A shares, or 40 percent of expanded capital, at 4.18 yuan per share, the top of a previously indicated range of 3.96 to 4.18 yuan per share.

State-run CSCEC is one of a slew of firms to have received the go-ahead for an IPO since the China Securities Regulatory Commission resumed offerings last month.

China's stock market .SSEC has risen around 80 percent so far this year, due in part to ample liquidity in its market system, which has been propelled by huge, government-backed new bank lending. (US$1=6.832 Yuan)

China