Shanghai: At least seven Chinese shipbuilders are planning share offerings, the Financial Times reports.
The largest of the anticipated initial public offerings is likely to come from the state-owned China Shipbuilding Industry Corporation (CSIC), which wants to raise about US$900m on the Chinese mainland A-share market. The other major state-owned shipbuilder, China State Shipbuilding Corporation (CSSC), is considering a share sale in Hong Kong. The companies declined to comment.
Five privately-owned shipbuilders - Jiangsu Rongsheng Heavy Industries, Sinopacific, Nantong Mingde, Yantai Raffles shipbuilding and JES International - are also looking to sell equity to fund their expansion, according to people familiar with the situation. [2/11/07]
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