CNR to issue 3 billion A shares in Shanghai IPO

China CNR Corporation Ltd (CNR), the country's top train maker by market share, said yesterday that it planned to issue up to 3 billion A shares in an initial public offering (IPO) in Shanghai to raise 6.44 billion yuan for investment projects.

The Beijing-based company said it would begin taking subscriptions from institutional investors on Dec 18 and from retail investors on Dec 21. The trading debut of its shares in Shanghai would be no later than Dec 29.

The offering will be equal to up to 34 percent of its enlarged capital.