- China Railway Construction Corporation
-
Not to be confused with China Railway Engineering Corporation, another railway infrastructure enterprise in the PR China.
China Railway Construction Corporation
中国铁道建筑总公司
Type Public Traded as SEHK: 1186,SSE: 601186 Industry Infrastructure Founded 1948 Headquarters Beijing, People's Republic of China Area served People's Republic of China Key people Chairman: Mr. Li Guorui Products Railways Services Railway infrastructure Employees ~220,000 Website China Railway Construction Corporation The China Railway Construction Corporation (Chinese: 中國鐵建 or Chinese: 中國鐵道建築總公司, Chinese: 中国铁建 Chinese: 中国铁道建筑总公司), or simply CRCC, is the second largest state-owned construction enterprise in the People's Republic of China, just after China Railway Engineering Corporation.[1] Its headquarter is in Beijing.
Formerly the railway arm of the People's Liberation Army, CRCC is engaged in the businesses of construction contracting, surveying, design and consultation, industrial manufacturing, exploitation of real estate, capital operation and logistics. It is currently China's largest construction contractor and the world's sixth construction contractor.[2]
CRCC is under the supervision by the State Council of the People's Republic of China.
Contents
IPO
In February 2008, A shares and H shares of CRCC were listed on the Shanghai and Hong Kong, with IPO price RMB$9.8 [3] and HK$10.7 [4] respectively.
The A shares closed at RMB$11.64 at the first trading day, 10 March 2008, 28% rise compared with its IPO price of RMB$9.08.[5] The H shares closed at HK$12, 12% rise compared with its IPO price of HK$10.7.[6]
The performance was poorer than expected because of poor investment atmosphere from United States subprime mortgage crisis and China's economic macro-control. However, it was the second-largest IPO worldwide, with funds raised in the amount of USD 5,709m, second only to the IPO of Visa (USD 19,650m).
"1186", the stock code of CRCC H shares, was used by two famous companies before.
The first time was when Richard Li's Pacific Century CyberWorks injected its assets into Tricom Holdings, which had stock code of "1186". But "1186" was not used after Pacific Century CyberWorks merged with Hong Kong Telecom in 2000 to become PCCW.
The second time was when Value Partners Group used it for Value Partners China Greenchip Fund. But it was delisted in 2007 and became an open-ended mutual fund.
Projects
2008
Libya - CRCC wins $2.6b bid for west-to-east coastal railway 352 km from Khoms to Sirte and a south-to-north railway 800 km long for iron ore transport from the southern city Sabha to Misrata.
2009
Saudi Arabia - CRCC wins 6.7 billion Saudi riyal contract to build the first 18 km of the metro in Mecca[8]
See also
- Real estate in the People's Republic of China
References
- ^ China Railway Construction Corporation to go public
- ^ Introduction of China Railway Construction Corporation
- ^ Rush for construction IPO shares
- ^ China Railway Construction prices HK IPO at top
- ^ China Rail Construction Has Worst IPO Gain Since 2006
- ^ Shares in China Railway Construction rise 12 percent in Hong Kong debut
- ^ Third time lucky for 1186
- ^ "World rail market March 2009". Railway Gazette International. 2009-03-08. http://www.railwaygazette.com/news/single-view/view//world-rail-market-march-2009.html. Retrieved 3 March 2010.
External links
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