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Article: China : China's CNR gets green light to sell 3 bln A shares in Shanghai.
- Article from:
- TendersInfo
- Article date:
- August 24, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: pinto03
China CNR Corporation Limited, one of the country's top two train makers, has got the regulatory approval to proceed with its initial public offering (IPO) in Shanghai, the securities regulator said in a statement posted on its website late Friday.
China Securities Regulatory Commission, the nation's stock regulator, reviewed CNR's IPO application Friday.
CNR had posted the approval on its website, and calls to the company rang unanswered Saturday.
According to its IPO prospectus, the company plans to issue no more than three billion A shares on the Shanghai bourse to fund projects worth 6.436 billion yuan (942 million ...