China Railway Const confirms March 10 Shanghai debut

China Railway Construction Corp confirmed on Friday its shares will begin trading on the Shanghai Stock Exchange on March 10, after it raised $5.4 billion in the world's biggest IPO so far this year.

The company issued 2.45 billion domestic A shares in the Shanghai portion of its dual listing, priced at 9.08 yuan per share. It also plans to list H shares in Hong Kong next Thursday.

The company had already indicated plans to list on March 10, but some firms have delayed their market debut due to volatility in the market. China Railway Construction's IPO had been postponed from January due to poor stock market conditions.

China's benchmark share index <.SSEC> has slumped 20 percent since mid-January, after nearly doubling last year, due in large part to fears that a flood of supply from IPOs and follow-on share issues for corporate fund-raising would overwhelm the market.

The state-run China Railway Construction, which is expected to benefit from China's infrastructure spending spree, drew strong investor demand for the IPO.