Railway Builders Head for Market – Jamil Anderlini

From The Financial Times:

China’s two largest railway construction companies plan to sell shares in Shanghai and Hong Kong before the end of the year to capitalise on soaring valuations and make up for a shortfall in government funding for the state-owned sector.

China Railway Group , the third-largest construction contractor in the world and the largest in Asia by revenue last year, is set to raise at least $3.8bn in an initial public offering in Shanghai and a secondary offering in Hong Kong that will help pay for rapid expansion. [Full Text]

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