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Railway firm targets Shanghai listing

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Railway firm targets Shanghai listing

Beijing-Shanghai High-speed Railway Co Ltd is likely to list on the main board of the Shanghai Stock Exchange on January 6, according to initial public offering documents.

According to initial public offering documents, Beijing-Shanghai High-speed Railway Co. Ltd eyes to be included on the main board of the Shanghai Stock Exchange on January 6.

The Beijing-Shanghai high-speed railway is the busiest and the most profitable railway in China.

Running at a total length of 1,318 kilometers, it runs through provinces, Hebei, Shandong, Anhui and Jiangsu and three cities Beijing, Tianjin and Shanghai. It has been operating since 2011 under the China State Railway Group Co. Ltd.

It is reported that the company will enlist through an IPO of not more than 6.28 billion shares. They kick started their goal by submitting the offering process in a letter of intent, Christmas day. The share price is yet to be determined.

In 2016, the company’s net profits increases to 7.9 billion yuan. In 2019, it is expected to record around 9.5 billion yuan in profit.

Indeed, the listing of the Beijing-Shanghai High-Speed railway will help national railway enterprises develop a mixed ownership economy. It will further promote the optimization and adjustment of the capital structure.

Most importantly, it will help promote high quality development of China’s railway system.

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