Finance / China
If you would like to subscribe to Corporate Financing Week and gain instant access to this article, please click here to subscribe.
If you would like to take a trial to Corporate Financing Week please click on the trial link below.
China Railway Construction IPO
February 2008 | IPO News AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
If you would like to subscribe to Corporate Financing Week and gain instant access to this article, please click here to subscribe.
If you would like to take a trial to Corporate Financing Week please click on the trial link below.
China Railway Construction Corporation (CRCC) has announced a dual listing in Hong Kong and Shanghai. It will be Asia's largest IPO so far this year with a combined size of up to US$5.3bn. It plans to raise between HKD16.9bn and HKD18.3bn (US$2.2bn and US$2.3bn) for its H-share listing and around CNY22.3bn (US$3.1bn) for its A-share listing. The Shanghai listing will be on March 10 and the Hong Kong on March 13. The H-share offering will be the equivalent of about 14% of the company; it is offering 1.706bn shares priced between HKD9.93 and HKD10.70 each. The A-share will account for