Photographer: Tomohiro Ohsumi/Bloomberg

Chinese Rail Giant to Raise Up to $1.8 Billion in Share Sale

  • Controlling shareholder to buy about half of CRRC placement
  • Government merged CSR, China CNR last year to form CRRC

CRRC Corp., China’s only maker of high-speed locomotives, plans to raise as much as 12 billion yuan ($1.8 billion) in a private share sale in Shanghai to repay debt and to help finance its daily operations.

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