Train maker China CNR set for flat Hong Kong trading debut

HONG KONG Wed May 21, 2014 9:28pm EDT

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HONG KONG May 22 (Reuters) - China CNR Corp Ltd , the world's largest train maker by sales, was set to open flat in its Hong Kong trading debut on Thursday after raising about $1.2 billion in a share offering to pay down debt, buy new equipment and develop new projects.

The company's Hong Kong shares were indicated to open at HK$5.17, unchanged from the price it sold shares last week in the city. The share offering was priced near the bottom of a HK$5.00 and HK$6.20 per share marketing range. (Reporting by Elzio Barreto; Editing by Paul Tait)