CSR completes Hong KongÆs third largest IPO this year

The book for China South Locomotive's offering is 10 times covered, allowing it to raise $533 million.
Both institutional and retail investors came out in force to help train maker China South Locomotive Rolling Stock CSR raise HK$4.16 billion $533 million before its Hong Kong trading debut next Thursday. The size of the deal bumps casino operator, SJM Holdings, from the number three spot for the largest Hong Kong IPO so far this year. But it is still some way behind snack producer China Want Want which raised $1.04 billion in March.

CSRÆs shares were priced at HK$2.60, close to the middle of the HK$2.49 to HK$2.76 range. The 1.6 billion shares on offer amount to 13.8% of the company. There is a 15% greenshoe, which if...
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