IPO of Money-Spinning Beijing-Shanghai High-Speed Railway Steams Ahead
The operator of the Beijing-Shanghai high-speed rail has appointed underwriters for its planned initial public offering (IPO) on the mainland, Caixin has learned, as the parent China Railway Corp. (CRC) looks for money to pare down its debt.
CRC has yet to decide to take Beijing-Shanghai High-Speed Railway Co. Ltd. (BSHSR) — of which it has a controlling 46% stake — to float in Shanghai or Shenzhen, Mao Bingren, a manager for CRC’s finance and development department, told Caixin on Thursday. He said no timetable has been set for the listing.
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