China Railway attracts sovereign wealth fund

China Investment Corp agrees to buy about $100 million worth of shares in the IPO as one of nine cornerstone investors.

China Railway Group has signed nine cornerstone investors who will jointly invest HK$3.18 billion $410 million in the H-share portion of its ongoing initial public offering, sources close to the deal confirmed yesterday.

Among these investors, who will receive a guaranteed allocation in return for a 12-month lockup, are China Investment Corp CIC China’s recently created $200 billion sovereign wealth fund which will buy HK$780 million worth of shares. This will be...

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