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China High Speed Transmission Equipment Group, part-owned by General Electric Co, raised HK$2.12 billion by pricing a Hong Kong initial public offering at the top end of a range, Bloomberg News reported yesterday.

China's largest maker of gears for wind power turbines sold 300 million new shares, a 25 percent stake, at HK$7.08 apiece, said unnamed sources. The Nanjing-based company earlier marketed the shares at HK$5.38 to HK$7.08 apiece. Morgan Stanley arranged the sale.