China Railway Construction IPO To Feed Overseas Ambitions

From Forbes :

While investors are captivated by the great infrastructure story behind China Railway Construction ’s initial public offering in Hong Kong, aiming to raise up to 18.25 billion yuan ($2.34 billion) this week, the company’s overseas ambitions make up the other, less celebrated, half of the picture.

In its public announcement Friday, China Railway Construction revealed its reason for undertaking this fund-raising exercise: the purchase of equipment for use in its overseas projects, expected to consume 90% of the proceeds it receives from the . The overseas spending spree could help it extend its geographical reach beyond of China, a thinly stretched but fast-growing export business closely matched with China’s rising political influence in Africa, the Middle East and Southeast Asia.

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