China Railcom Denies CNY20 Billion IPO Plan

January 7, 2005 | Print | Email Email | Comments | Category: Business





    A spokesperson from China Railcom has made an announced that the company does not intend to do an IPO in the coming months.

    Reports circulated in Chinese media late last year that Railcom planned an IPO in January 2005 in order to collect CNY20 billion.

    Domestic analysts are saying that Railcom is not prepared for an IPO now mainly due to its low profits. The company has been relying recently on bank loans and funds from the Ministry of Railway.

    There may be merger possibilities too. Rumors are circulating that Railcom may be integrated with other telecom operators soon.

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