Railway firm eyes Shanghai listing 
2019-12-27
Beijing-Shanghai High-speed Railway Co Ltd is likely to list on the main board of the Shanghai Stock Exchange on January 6, according to initial public offering documents.
The company kicked off the offering process in a letter of intent issued on Wednesday. It will list through an IPO of no more than 6.28 billion shares.
The share price is yet to be determined. The Beijing-Shanghai high-speed railway is the busiest and the most profitable railway in China.
The company’s net profits rose from 7.9 billion yuan (US$1.13 billion) in 2016 to 9.05 billion yuan and 10.24 billion yuan, respectively, in the following two years. In 2019, it is expected to record 9.52 billion yuan in profit.
With a total length of 1,318 kilometers, it runs through four provinces (Hebei, Shandong, Anhui and Jiangsu) and three cities (Beijing, Tianjin and Shanghai). The railway has been operating since 2011 under the umbrella of China State Railway Group Co Ltd.
“The listing of the Beijing-Shanghai high-speed railway will help national railway enterprises develop a mixed-ownership economy, promote the optimization and adjustment of the capital structure, and promote the high-quality development of China’s railway,” said a group official. 
