China CNR Corp pre-markets Hong Kong IPO

Chinese train manufacturer hopes to complement its Shanghai listing with a flotation in Hong Kong.

China CNR Corp pre-markets Hong Kong IPO

China CNR Corporation is into its second week of pre-marketing for a $1 billion to $1.5 billion initial public offering of shares in Hong Kong.

The train manufacturer, already listed in Shanghai, is pitching a 1.82 billion primary share deal, comprising 15% of its enlarged share capital. There is the normal 15% greenshoe and 90%10% split between institutional and retail investors, and formal roadshows are provisionally scheduled to begin towards the end of the...

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