Nanjing Tanker to resume stock trading

Sinotrans-CSC Nanjing Tanker has announced that the company's stock will resume trading on the Shanghai Stock Exchange on 8 January 2019.

The opening price of its stock will be RMB4.31 ($0.64) per share.

Nanjing Tanker went public on the Shanghai Stock Exchange in 1997. Due to three years of consecutive losses in 2010, 2011 and 2012, the company had to suspend stock trading in May 2013.

As part of efforts to return to the stock market, Nanjing Tanker handed over its VLCC business, the major loss of the company, to Sinotrans-CSC and China Merchants Group, and terminated related long-term charter contracts to reduce financial burden.

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Sinotrans & CSC Nanjing Tanker, an arm of China Merchants Group, is focused on oil transportation business. Its business scope mainly includes international crude oil transportation, international product oil transportation, chemicals transportation, and special liquid transportation.

Posted 28 December 2018

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Katherine Si

China Correspondent

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