China Railway Engineering plans US$3b IPO

(Agencies)
Updated: 2007-10-31 14:58

China Railway Engineering Group Co plans to raise more than US$3 billion through initial public offerings on the Shanghai and Hong Kong exchanges by early December, Reuters reported.

The State-run company intends to sell about 40 percent of its enlarged share capital in the listings -- or 22 percent in Shanghai and 18 percent in Hong Kong. The Shanghai listing is expected in late November or early December, while the Hong Kong listing is slated for a few days later, the sources said.

The Hong Kong portion of the deal is being handled by BOC International, JP Morgan and UBS.

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