China CNR Corporation is into its second week of pre-marketing for a $1 billion to $1.5 billion initial public offering of shares in Hong Kong.
The train manufacturer, already listed in Shanghai, is pitching a 1.82 billion primary share deal, comprising 15% of its enlarged share capital. There is the normal 15% greenshoe and 90%10% split between institutional and retail investors, and formal roadshows are provisionally scheduled to begin towards the end of the week.
CICC, Macquarie and UBS are acting as joint-bookrunners on the deal and have plenty of sectoral experience since CICC and Macquarie also led the dual Shanghai and Hong Kong IPO...
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