China Railway Signal IPO prices at the bottom

State-owned railway equipment maker was nevertheless endorsed by cornerstone and anchor investors and stands to be the fourth largest HK float this year.

China Railway Signal & Communication Corporation, the world’s largest railway control system developer by revenue, priced its Hong Kong initial public offering at the bottom of the range despite having the order book fully covered on day one of the roadshow.

¬ Haymarket Media Limited. All rights reserved.

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