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| | Xinhua - English |
 | | BEIJING, July 21 -- Daqin Railway Co. has set the price for its initial public offering (IPO), expected to be China's second-biggest this year, at 4.95 yuan, near the top of a range of 4.58 to 5 yuan, amid strong institutional demand. |
 | | Institutional investors, mainly mutual funds, bid for 25.7 billion of the IPO shares this week, far more than the 1.06 billion shares available to them, Daqin said Thursday, meaning the shares were 24 times oversubscribed. |
 | | Daqin plans to raise up to 15 billion yuan through the offer, which will be listed on the Shanghai Stock Exchange before Aug. 7. |
| news.xinhuanet.com /english/2006-07/21/content_4863058.htm?rss=1 (235 words) |
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