Kirkland on China Railway Signal's $1.8B IPO
The traffic-control systems designer will list next month four years after its first attempt at going public was postponed because of a deadly train rash in eastern China that killed 40 people.
July 28, 2015 at 01:28 AM
2 minute read
Kirkland & Ellis is representing state-owned China Railway Signal & Communication Corp. on a planned initial public offering in Hong Kong worth $1.8 billion.
The Beijing-based traffic-control systems provider will list on the Hong Kong Stock Exchange on Aug. 7. China Railway Signal has already attracted 16 cornerstone investors including China Railway Group Ltd., China State Shipbuilding Corp., CRRC Corp. and China Life Insurance Co. Ltd.
In a regulatory filing, the company said the proceeds would be used to fund research and development in China, upgrade production facilities and for domestic and overseas acquisitions.
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