China Railway Construction Heavy Industry Corporation Ltd. (CRCHI) was listed on the science and technology innovation board or the STAR market of the Shanghai Stock Exchange on June 22. Its stock code is 688425. CRCHI became the first spin-off listing company to get approval on A-share market. It is a subsidiary of China Railway Construction Co., Ltd (CRCC). Chen Fei, vice governor of Hunan Province attended the ceremony.

CRCHI will issue 1.285 billion shares. It is expected to raise 3.688 billion yuan and achieve a total capitalization of 5.141 billion shares. The special equipment manufacturer has the largest fund-raising scale and has become the first construction machinery company listed on the STAR market. CRCC is CRCHI’s controlling shareholder.

CRCHI has introduced 22 institutional investors through this initial public offering. This year the listed firm has introduced the most strategic investors on the STAR market.  

CRCHI is mainly engaged in the design, R&D, manufacturing, sales, and leasing services of tunnel boring machines, rail transit equipment and special professional equipment. It is a leading provider of tunnel boring machines in the world and a leading provider of rail transit equipment in China. The funds raised this time will be used for super underground engineering intelligent equipment R&D and application projects, R&D center and production base construction projects.

So far Changsha City has 72 A-share listed companies, ranking first in the central China.

This article is from Hunan Provincial Government www.enghunan.gov.cn.

Translator: Xiao Juan

Chinese source: hunan.gov.cn