China Railway Signal sets terms for up to $1.8 bln Hong Kong IPO – IFR

China Railway Signal sets terms for up to $1.8 bln Hong Kong IPO – IFR

China Railway Signal & Communication Corporation, the world’s largest train control system maker, is kicking off its initial public offering this week to raise up to US $1.8 billion (HK$14.04 billion), according to Reuters.

The company is offering 1.75 billion new shares, or about 20 percent of the enlarged share capital, in an indicative range of HK$6.30-8.00 each, IFR, a Thomson Reuters publication, said.

The price range represents forward price to earnings ratio of 19-24, the report added.

Citigroup, Morgan Stanley and UBS are joint sponsors on the transaction, it said.

 

 

 

 

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