16 November 2018

China CNR plans US$1.5 bln IPO in 2Q, WSJ says

Shanghai-listed China CNR Corp. plans to raise around US$1.5 billion in a Hong Kong initial public offering in the second quarter, the Wall Street Journal reported Tuesday, citing people with direct knowledge of the deal. The train maker aims to raise funds ahead of a planned expansion of China’s high-speed-rail network, the report said. CNR, China’s second-biggest train maker by sales, plans to submit an application to list to the Hong Kong stock exchange in coming weeks, it said. 

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