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Ningbo Port delays listing

Article-Ningbo Port delays listing

Ningbo Port delays listing

Shanghai: Ningbo Port (pictured) has postponed its listing plan, due to the recession of the international financial market, Tong Mengda, the company's chief economist told SinoCast. In March 2008, Ningbo Port Group president Li Linghong announced plans to debut on the stock market, first in Mainland China, and then in Hong Kong, with the idea to go public before the end of June. However, the downturn in the capital market has meant that the port group has decided to wait for a stronger financial environment.

Ningbo Port is China's second largest port only next to Shanghai International Port, as well as one of the world's few deepwater ports. It currently has 309 productive berths, including 60 deepwater berths with throughput above 10,000 tonnages.  [10/10/08]

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