China Railway Group has signed nine cornerstone investors who will jointly invest HK$3.18 billion $410 million in the H-share portion of its ongoing initial public offering, sources close to the deal confirmed yesterday.
Among these investors, who will receive a guaranteed allocation in return for a 12-month lockup, are China Investment Corp CIC China’s recently created $200 billion sovereign wealth fund which will buy HK$780 million worth of shares. This will be the fund’s first investment in a Hong Kong IPO and only its second investment overall after taking a $3 billion stake in private equity firm Blackstone earlier this year. So far, that inaugural investment has...
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