China’s High-Speed Rail Operator to Raise $7.3bn

2 March 2010 (Last Updated March 2nd, 2010 18:30)

Chinese government-controlled Beijing-Shanghai High-Speed Railway is preparing to raise $4.4bn to $7.3bn through an initial public offering (IPO) this year. The IPO plan, submitted to main government departments, is waiting for approval from China's state council. The ministr

Chinese government-controlled Beijing-Shanghai High-Speed Railway is preparing to raise $4.4bn to $7.3bn through an initial public offering (IPO) this year.

The IPO plan, submitted to main government departments, is waiting for approval from China's state council.

The ministry of railways is looking at alternate sources for funding railway projects, according to Xinhuanet.

China Railway Investment Corp (CRIC) is the largest shareholder of Beijing-Shanghai High-Speed Railway.

CRIC is planning to give up 4.5% of its 56.2% stake in the 1,318km high-speed railway project, to raise about $878m for more projects.