HK debut: China Railway pre-listing share sale 209 times oversubscribed

CHINA Railway Group yesterday announced that its Hong Kong IPO before it listed on the Hong Kong bourse today was over subscribed 209 times with a final offer price for H shares of HK$5.78 (US$0.74) per share.

Gross proceeds of H shares from the global offering before the exercise of the over-allotment option was HK$19.2 billion, said the company in a press release.

China Railway was hoping for a good response today for its the debut of public trading on the Stock Exchange of Hong Kong after its A-shares went up 70 per cent on its Monday IPO in Shanghai.

The Wall Street Journal reported the Shanghai listing a success despite recent disappointing IPOs of Sinotruk and Sinotrans Shipping.