Cornerstones all aboard China Railway Signal IPO

The world’s largest railway control system developer by revenue locked in nearly $1 billion worth of cornerstone commitments to ensure the IPO stays on track.

Cornerstones all aboard China Railway Signal IPO

China Railway Signal Communication Corporation has placed more than half its $1.8 billion initial public offering in Hong Kong with cornerstone investors as the global roadshow gets underway today.

A total of 16 cornerstone investors committed an aggregate $971 million as of Monday and the railway signal system developer has also received commitments of about $900 million from anchor investors, a second source familiar with the offering said.

Commitments from both...

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