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Dual listing for Ningbo port

Dual listing for Ningbo port

Hong Kong:  Chinese port operator Ningbo Port Group, the world's fourth-largest by volume, aims to raise as much as US$2 billion in a dual Hong Kong and Shanghai initial public offering in 2008, sources familiar with the deal have told Reuters.
The company, which operates a port in the thriving eastern Chinese city of Ningbo, near Shanghai, has tapped Credit Suisse and JPMorgan to handle its Hong Kong listing, while Bank of China International will manage both its Hong Kong and Shanghai offerings, the sources said.
By the end of last year, cargo throughput at Ningbo Port reached 138 million tonnes, while container throughput totalled 5.15 million teu. This decade it has been the fastest growing container port in all of China and is often deemed the finest natural deepwater port on the mainland. [14/11/07]



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