After successful Shanghai listing, China Railway looks to HK
4 December 2007
China Railway's A-shares went up 70% yesterday during its initial public offering in Shanghai, the Wall Street Journal reported. The listing was generally received as a success, considering the anxious build-up caused by the recent disappointing IPOs of Sinotruk and Sinotrans Shipping. As the company prepares for its Friday listing in Hong Kong, most analysts do not expect a repeat performance, given the large difference between A-share and H-share premiums, as well as the differing market environments. Some apprehension about mainland listings remains, as aluminum foil maker Xiashun Holdings postponed its Hong Kong listing, fearing a poor response from investors.
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