China South’s Shanghai IPO is huge blowout

06 Aug 2008

China South Locomotive & Rolling Stock Corp priced the Rmb6.54bn ($958m) domestic part of its IPO yesterday (Thursday) amid a Rmb2.27tr ($332bn) torrent of demand from Chinese investors.

Known as CSR, the railway wagon and engine maker priced the shares at Rmb2.18 a share, the top end of a range that began at Rmb2.10. China International Capital Corp and Industrial Securities were lead underwriters.

The response was a huge vote of confidence by investors, even though the ...

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