Feb. 14, 2007 (China Knowledge) – China Railway Engineering Group Co., a Beijing-based construction company which also builds airports, is set to raise between US$1.5 billion and US$2 billion ahead of simultaneous listings in Hong Kong and Shanghai in the fourth quarter of 2007.

China Railway Engineering is still undergoing corporate restructuring by the State-Owned Assets Supervision and Administration Commission of China's State Council.

UBS AG, JPMorgan Chase & Co., and BOC International Ltd. (BOCI) have been hired to work on the H-share IPO, while BOCI and UBS be underwriting the domestic A-share IPO, reported the Wall Street Journal, quoting a person familiar with the deal.

According to the company's website, China Railway Engineering’s revenue was RMB 126.4 billion in 2005, and was China's biggest construction company in terms of sales that year.