ecns [expanded by feedex.net]: Train maker China CNR raises $1.2b in Hong Kong IPO

ecns [expanded by feedex.net]

ecns

Train maker China CNR raises $1.2b in Hong Kong IPO
http://www.ecns.cn/business/2014/05-16/114453.shtml
May 16th 2014, 07:31





2014-05-16 16:31 Agencies


Chinese high-speed train maker China CNR Corp raised more than US$1 billion in an initial public offering in Hong Kong Friday.


The state-owned locomotive manufacturer, which produces trains for the country's super-fast rail network, raised US$1.2 billion selling 1.8 billion shares at HK$5.17 (US$0.67) each, at the lower end of its indicative price range.


The listing of CNR is the latest in a pipeline of companies trying to debut in Hong Kong this year. Not all the companies' plans worked out.


CNR, which listed in Shanghai in 2009, produces the major type of train running on the 2,298-kilometer Beijing-Guangzhou route, the world's longest high-speed rail route that opened in 2012.






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