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          South Locomotive to debut on stock market 
          


          (Agencies)
          
 Updated: 2008-08-15 17:26
          



 

          

          

          South Locomotive to debut on stock market 
          

          


          China South Locomotive & Rolling Stock Corp Ltd said it raised net proceeds of 6.37 billion yuan ($815 million) from its 3 billion A-share offering, and will list on the Shanghai Stock Exchange on Monday.
          


          Proceeds from the offer will fund several projects, including some designed to raise its capacity for building high-speed railcars, urban light railcars and key parts.
          


          The A-shares IPO price of 2.18 yuan was at the top end of the indicative range and implied a price-to-earnings ratio of 16.03 times 2008 projected net profit based on Chinese accounting standards, the company said in a statement to the Shanghai Stock Exchange.
          


          China International Capital Corp and Industrial Securities Co Ltd are joint lead underwriters for the Shanghai IPO.
          


          

          (For more biz stories, please visit Industries)
          

          

          


 



 



          


          


 

          

          

          


          

          


 

          


          


 

          


          


 

          


          


          


 

          

          

          
          		

          

          








           
          


           
          



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