China Railway Group has set the price range for an initial public offering that is likely to become the blueprint for future ôdualö listings in Hong Kong and Shanghai. The offering appears to be a compromise between BeijingÆs desire to have the countryÆs top companies list in the domestic market first and a realisation that many of these companies want and need to gain access to the international investors that Hong Kong can offer.
As opposed to Industrial and Commercial Bank of China and China Citic Bank, which both listed simultaneously in Shanghai and Hong Kong, China RailwayÆs A-share offering will be running a few days ahead of the H-share sale and will list in...
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