China South Locomotive & Rolling Stock
BEIJING (XFN-ASIA) - China South Locomotive & Rolling Stock Corp Ltd (SHA 601766) said it raised 6.54 bln yuan from the issue of 3 bln A-shares on the Shanghai Stock Exchange, after pricing the shares at 2.18 yuan, the top of its indicated range.
The A-share pricing is 16.03 times 2008 projected net profit based on Chinese accounting standards, the company said in a statement to the Shanghai Stock Exchange.
About 600 mln A-shares, or 20 pct, will be sold to institutional investors, and the remainder will be sold to retail investors.
The fund-raising exercise generated combined 2.26 trln yuan in institutional and retail share applications.
China International Capital Corp and Industrial Securities Co Ltd are joint lead underwriters for the IPO.
The company also plans to issue up to 1.6 bln H-shares on the Hong Kong stock market, representing up to 13.79 pct of its enlarged share capital.
The company, which also kicks off its Hong Kong IPO roadshow on Monday, plans to raise 566 mln usd by issuing selling 1.6 bln H-shares at 2.49-2.76 hkd, a source told XFN-Asia earlier.
Filed under: Hong Kong Stocks, Chinese Stocks, Shanghai Stock Exchange by CSMR
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