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China Railway Signal Said to Plan $2 Billion Stock Sale

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China Railway Signal & Communication Corp., China’s biggest provider of rail traffic control systems, plans to seek about $2 billion from an initial public offering in Hong Kong, said people with knowledge of the matter.

The company, based in Beijing, expects to start the share sale this year, said the people, who asked not to be identified because the information is private. State-owned China Railway Signal has yet to receive approval from domestic and Hong Kong regulators, they said.