China CNR Corp, the country's No.2 train maker, proposed Wednesday a rights issue of 2.5 new shares for every 10 shares held to raise up to 7.1 billion yuan ($1.13 billion) to invest in high-speed train projects and technology research.
Under the proposal, the company will issue 2.08 billion Shanghai-listed A shares at 3.42 yuan each, it said in a statement to the Shanghai Stock Exchange. China International Capital Corp and UBS Securities are lead underwriters for the rights issue.