China South Locomotive: Next Stop, IPO

July 2008 | IPO News Alert

China's biggest train maker is hoping to raise US$2bn in a dual listing in Shanghai and Hong Kong. Beijing-based China South Locomotive & Rolling Stock Corp Ltd this week launched the pre-IPO marketing for the US$600mn worth of H shares that comprise the smaller Hong Kong tranche. The larger Shanghai offering will involve the issue of up to 3bn domestic A-shares, roughly 30% of the company's enlarged capital. It will be the second offering this year to list on both the Shanghai and Hong Kong bourses. Shares in the first, China Railway Construction, have risen by 11% in Shanghai and Hong Kong bourses.

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