China CNR has priced its A-share initial public offering (IPO) in Shanghai at 5.56 yuan a share, the top of an indicated range to raise 13.9 billion yuan ($2.04 billion).
The IPO by the Chinese trainmaker marks the country's fourth-largest offering this year, attracting 1 trillion yuan in subscriptions, the company said in a filing to the Shanghai Stock Exchange.
CNR will sell 2.5 billion yuan-denominated A shares in order to raise funds for technology upgrades.
It had previously set a price range for the IPO at 5.00 yuan to 5.56 yuan.
Chinese firms have been rushing to raise funds in the buoyant stock market this year, namely in both China and Hong Kong, while China's regulators are speeding up IPO approvals to boost equity supply as part of an effort to prevent asset price bubbles.
