China Railway on track for "dual" listing
The combined A- and H-share offering could total $5.5 billion, with the H-share portion accounting for 45% of the deal.
China Railway Group has set the price range for an initial public offering that is likely to become the blueprint for future ôdualö listings in Hong Kong and Shanghai. The offering appears to be a compromise between BeijingÆs desire to have the countryÆs top companies list in the domestic market first and a realisation that many of these companies want and need to gain access to the international investors that Hong Kong can offer.
As opposed to Industrial and Commercial...
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