China CNR On Track To Make Rights Issue

With share prices continuing to sit below historical standards, right issues remain a popular route to raising capital. Due to ongoing volatility in global markets, Chinese locomotive provider China CNR has scrapped plans to make a CNY10.2bn (US$1.6bn) A-share private share placement and has instead opted to sell CNY7.1bn (US$1.11bn) in new shares to existing investors via a right issue, according to a statement to Shanghai's stock exchange.

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