Anxiety ahead of China Railway IPO

China Railway Group's initial public offering in Shanghai today, Financial Times reported. China Railway's IPO, along with the debuts of two other major companies slated for December – China Pacific Insurance and Shenzhen-based BYD Electronic – could raise a combined US$12 billion, and is being seen by many as a bellwether for the future IPOs of state firms. A nervous atmosphere has surrounded the US$3 billion listing, the first following disappointing listings of state firms Sinotruk, which had the worst first-day perfomance of the year last week, and Sinotrans Shipping, which dropped 13% on its first day.