Shanghai: Ningbo Port Co. plans to raise as much as 13.3 billion yuan ($1.9 billion) in what would be Shanghai's second-largest initial public offering this year to help fund new coal and container berths.
The operator of China's second-busiest harbour by throughput plans to sell as many as 2.5 billion shares, or a 19 percent stake, according to a prospectus posted on the website of the China Securities Regulatory Commission. The state-controlled company may also sell as many as 2.35 billion shares in Hong Kong, it said. The port has seen previous attempts to list thwarted by the financial crisis. [02/06/10]
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