China Railway prices H-share IPO at top
China's biggest construction company is largely unaffected by market volatility, but Dongyue isn't so lucky and prices its deal in the lower half of the range.
China Railway Group decided to follow the trend among Hong Kong listings and price the H-share portion of its initial public offering at the top of the indicated range for a total deal size of HK$19.2 billion $2.48 billion. Together with the A-share offering, which closed a week-and-a-half ago, the company was thus able to raise a combined $5.51 billion ahead of its ôdualö listing in Hong Kong and Shanghai.
This makes China Railway slightly larger than China...
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