IPO plan for Shanghai to Beijing HSR

Source: Xinhua | 2019-02-27

The operator of the Beijing-Shanghai high-speed railway, one of China’s busiest high-speed rail lines, has launched preparations for an initial public offering on the mainland stock market.

The Beijing bureau of China Securities Regulatory Commission, the country’s stock market regulator, yesterday published information on the pre-listing tutorial services provided by CSC Financial Co Ltd for Beijing-Shanghai High-Speed Railway Co Ltd on its website.

The IPO will be “a major move to advance the shareholding reform in national railway enterprises,” said an official with China Railway Corporation, BSHSR’s parent company.

With high-quality assets and stable cash flows, the BSHSR has been turning a profit for more than three straight years and is eligible for an IPO, according to the CRC.

Floating the company will expand its capital, improve its efficiency, and help establish a market-oriented mechanism of management, according to the CRC official.

No timetable for the IPO has been disclosed yet.