China Securities Regulatory Commission has approved the initial public offering (IPO) application submitted by the Beijing-Shanghai high-speed railway operator.
Following the approval, Beijing-Shanghai High-Speed Railway Co Ltd (BSHSR) will be listed at the Shanghai Stock Exchange, offering 7.557 billion shares, rising funds of CNY 50 billion (USD 7.13 billion). The company intends to offer 15% of its shares.
BSHSR was established in 2007 and operates one of China’s profitable rail lines. Since 2014, the company recorded profit for five years in a row and in 2018, its net profit reached CNY 10.25 billion (USD 1.46 billion).
Since 2011, when the 1,318-km high-speed railway line between Beijing and Shanghai was opened, more than 1 billion trips were made.