CNR raises 13.9b yuan from float

Train maker China CNR Corp raised 13.9 billion yuan ($2 billion) selling shares on the Shanghai Stock Exchange, completing the country's status as the world's biggest market for initial public offerings this year.

CNR sold 2.5 billion shares at 5.56 yuan apiece, the top of its price range, according to a filing to Shanghai's stock exchange yesterday.

The sale brings the amount raised by Chinese companies in mainland IPOs to at least 187 billion yuan this year, according to data compiled by Bloomberg, as record lending and government stimulus revive the economy.