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S.Locomotive, Everbright Securities IPO under review

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

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

China 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 China Securities Regulatory Commission said it will review the proposals June 30.

China South Locomotive is also seeking to list up to 2.3 billion H shares in Hong Kong. China 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.