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Trading suspension last step for CNR-CSR merger

Xinhua, May 7, 2015 Adjust font size:

The separate trading of China's two high-speed rail (HSR) giants ended Wednesday, and their stocks suspension since Thursday marked the last step in the long-awaited merger.

Dominating the entire domestic HSR market, China North Railway (CNR) and China South Railway (CSR) will form a new company called CRRC Corp.

According to the merger plan, the incorporated company will emphasize overseas industrial distribution and management in order to establish promising influence.

"The new company's stock is expected to be listed in early June." An anonymous CSR source said, "More detailed mergers in subsidiaries and branch businesses will follow."

Since the announcement of the merger on Oct. 30, 2014, shares in the two companies surged over 500 percent, according to the exchange data. Endi