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BIZCHINA / Center |
Raiway contractor expects A shares to debut Mar 10(Agencies)
Updated: 2008-02-15 11:45 China Railway Construction Corp said Friday the subscription period for its initial public offering (IPO) of up to 2.8 billion yuan-denominated A shares will be from February 25 to February 26. The company said in its prospectus it expects its A shares to start trading on the Shanghai Stock Exchange on March 10. It said up to 700 million shares, or 25 percent of the offering, will be sold to institutional investors, while the remainder will be sold to retail investors. The company didn't say in the prospectus how much it plans to raise from the share offering, but said it will use 15.87 billion yuan from the IPO proceeds to buy construction machinery, upgrade its railway system and supplement working capital.
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