Mainland investment bank China International Capital Corp. has applied for a US$1 billion listing on Hong Kong’s stock exchange, The Wall Street Journal reported, citing unnamed sources. The firm has played a key role in advising the Chinese government in guiding the listing of state-owned enterprises’ initial public offerings. News of the application comes a day after China Railway Signal & Communication Corp., which makes signal systems used by China’s extensive train network, began sounding out investors about an up to US$2 billion Hong Kong IPO that could prove a major test of investor sentiment following China’s recent stock market collapse and state-enforced rehabilitation.
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