Beijing-Shanghai High-Speed Railway, the firm behind the transport link connecting China’s largest city and its capital, is reportedly preparing to go public after years of speculation surrounding a potential listing.
The unit’s parent China Railway and investors Ping An Asset Management and the National Social Security Fund have reached a consensus on the flotation, financial news outlet Caixin cited sources as saying.
Ping An and the NSSF have been pushing for the firm to go public in recent years, but China Railway held out as it believed the company to have sufficient cash flow. It appears to have opened up to the idea as the central government looks to deleverage and conduct institutional reforms at railway firms to cut back on risk.
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