Arab Today, arab today train maker china cnr raises 12bn in hong kong ipo
Last Updated : GMT 01:38:25
Arab Today, arab today
Arab Today, arab today

Train maker China CNR raises $1.2bn in Hong Kong IPO

Arab Today, arab today

Arab Today, arab today Train maker China CNR raises $1.2bn in Hong Kong IPO

Hong Kong - AFP

Chinese high-speed train maker China CNR Corp raised more than US$1 billion in an initial public offering in Hong Kong Friday, less than a month after a Chinese pork firm withdrew a planned blockbuster listing. The state-owned locomotive manufacturer, which produces trains for the country's super-fast rail network, raised $1.2 billion selling 1.8 billion shares at HK$5.17 ($0.67) each, at the lower end of its indicative price range. China CNR Corp's scheduled listing on the Hong Kong stock exchange on May 22 comes after pork producer WH Group cancelled a planned blockbuster listing in Hong Kong at the end of April, blaming weak market conditions. Earlier in April, the pork firm said it hoped to raise up to $5.3 billion, which would have been the biggest globally in a year and the city's largest since 2010. However, it later slashed the offering by two-thirds to $1.88 billion, blaming concerns over the strength of the stock market. China's high-speed rail network was only established in 2007 but has fast become the world's largest. The state-run China Daily newspaper said the high-speed rail network was set to reach 50,000 kilometres by 2020, with four main lines running north and south and another four east and west. However, China's high-speed rail network has also been plagued by graft and safety scandals, including a collision in July 2011 that killed 40 people. CNR, which listed in Shanghai in 2009, produces the major type of train running on the 2,298-kilometre (1,425-mile) Beijing-Guangzhou route, the world's longest high-speed rail route that opened in 2012. -- Dow Jones Newswires contributed to this report --

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today train maker china cnr raises 12bn in hong kong ipo Arab Today, arab today train maker china cnr raises 12bn in hong kong ipo

 



Arab Today, arab today
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Top Yemen commander killed

GMT 09:55 2017 Wednesday ,22 February

Top Yemen commander killed
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 05:26 2017 Wednesday ,22 February

Singapore carbon tax would hit refiners, help renewables

GMT 05:18 2017 Wednesday ,22 February

Chinese PM: US should avoid ‘trade war,’

GMT 20:59 2017 Tuesday ,21 February

Economy good, but homes in German cities overpriced

GMT 05:29 2017 Tuesday ,21 February

Sovereign funds pulled $38bn from markets in 2016

GMT 05:15 2017 Tuesday ,21 February

Gold firms as markets await Trump tax plans

GMT 04:58 2017 Tuesday ,21 February

EU, IMF in ‘common position’ on Greece crisis
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Janat pleased for issuing 'Good Morning'

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 05:15 2017 Tuesday ,21 February

Omega 3 can reduce asthma cases

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday