Railroads News
- China Railway wins IPO nod
Date: 12-Nov-2007 Sources: (Shenzhen Daily)
CHINA Railway Group, the world's third-largest construction contractor by revenue, has won approval from the Hong Kong Stock Exchange for an initial public offering (IPO), which combined with one in Shanghai could raise US$4 billion, a source familiar with the deal said yesterday.
China Railway, which plans to offer 3.326 billion H shares in a Hong Kong offering, aims to begin its pre-marketing today. The company will start its formal roadshow Nov. 20, and its Hong Kong retail offering will start Nov. 23, with a trading debut scheduled for Dec. 7. China Railway has announced plans to issue up to 4.675 billion new A shares, or 26.75 percent of its enlarged share capital, in the offer.
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