China Railway Signal IPO rolls onto the tracks

The state-owned railway control system developer launches pre-marketing, hoping that improving investor sentiment will enable it to price through CRRC.

China Railway Signal IPO rolls onto the tracks

China Railway Signal Communication Corporation, the world’s largest railway control system developer, began pre-marketing its Hong Kong initial public offering on Monday.

Based on initial pricing indications of about 20 times 2015 earnings, the group should raise about $1.5 billion, or about $1.67 billion if its greenshoe is exercised.

The deal will provide a key test of investor sentiment at a time when China related equity markets are only just starting to...

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