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Sinopacific gears up for listing

Sinopacific gears up for listing

Shanghai: Chinese shipbuilder Sinopacific Shipbuilding Group is planning to raise about $660 million in a public listing in the domestic A-share market in June 2008. China's CITIC Bank Corp. will underwrite the Sinopacific listing, its chairman and chief executive officer, Simon Liang, told Reuters in an interview.

Sinopacific expects to book turnover this year of 5 billion yuan ($660.3 million), having grown from a company that started by building three ships in 2003, Liang said.

"This year we will deliver 25 ... We are a fast-growing company, and in the next three to five years we should have a 60-70 percent increase in turnover," said Liang, who founded the company.  [15/08/07]

 

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