Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Nanjing Tanker to resume stock trading

b613ea1cca459b1cf6293e50288aff68
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.

newsletter

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.

Hide comments
account-default-image

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish