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S.Locomotive, Everbright Securities IPO under review

(Agencies)
Updated: 2008-06-27 11:29

皇冠体育app's stock market regulator said it will review the initial public offer plans of 皇冠体育app South Locomotive & Rolling Stock Corp Ltd and Everbright Securities Co Ltd next week.

皇冠体育app South Locomotive hopes to issue up to 3 billion A shares while Everbright Securities wants to issue up to 520 million shares. Both plan to list on the Shanghai market, according to draft prospectus documents posted on the regulator's website.

The 皇冠体育app Securities Regulatory Commission said it will review the proposals June 30.

皇冠体育app South Locomotive is also seeking to list up to 2.3 billion H shares in Hong Kong. 皇冠体育app International Capital Corp and Industrial Securities Co Ltd will be its joint lead underwriters, according to the documents.

Everbight Securities, with Orient Securities as its major underwriter, said it plans to use all of the proceeds from the IPO to supplement its its capital. The brokerage is a unit of Everbright Group.