Chinese rights issue

China CNR plans $1.1 billion rights issue

The railway-carriage maker will offer up to three rights shares for every 10 existing A-shares.

China CNR Corp, the country’s second-biggest maker of railway carriages, has scrapped plans for a Rmb10.2 billion ($1.6 billion) private placement and will instead raise Rmb7.1 billion ($1.1 billion) through a rights issue.

¬ Haymarket Media Limited. All rights reserved.

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