train-makers-offering-postponed-as-csrc-stalls

Train maker's offering postponed as CSRC stalls

Today's planned launch of the H-share portion of China South Locomotive's up to $2 billion IPO will be delayed and sources say the deal is now unlikely to come before the Olympics.
July 27, 2008
The plan to kick off the international roadshow for the H-share portion of China South Locomotive Rolling StockÆs CSR initial public offering today has hit a snag as the Chinese regulators have yet to give the final go-ahead to the A-share tranche, sources say. Investors were told on Friday that the deal will be postponed for now, but were given no new timetable.

The two portions, which could raise as much as $2 billion together, are meant to take place almost simultaneously but, under Chinese guidelines, the A-shares have to start trading in Shanghai before the H-shares can debut in Hong Kong. And because the H-shares cannot be priced below the A-shares, it is also...
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