Chinese rail companies eyeing IPOs to keep pace with expansion plans
The Chinese government's railway engineering and construction entities are considering offering initial public offerings to raise cash to fund the mammoth rail infrastructure expansion plans of the central government, the China Economic Review reported Friday.
China Railway Engineering and China Railway Construction are eyeing up the potential of the IPOs.
'This may be the start of a deluge,' the report said. 'Many companies within the railway industry are thinking of IPOs to raise funds to try and keep pace with China’s fast expansion of railways. The progress is staggering. It is very like the canal revolution when it happened in Britain or, perhaps more appropriately, the Victorian railway boom.'
