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The task of Zosco - a Shanghai listing

The task of Zosco - a Shanghai listing

Shanghai: Zhejiang Ocean Shipping Co is planning an initial public offering (IPO) of its shares on the Shanghai Stock Exchange this year, according to local media.?
The company, also known as Zosco, is the largest ocean shipping company in Zhejiang province. It plans to issue up to 100 million shares and raise up to 2 billion yuan through the public float. ?The China Securities Regulatory Commission is currently reviewing the IPO proposal. ?The float is expected to provide funds for the company's new fleet of 10 capesize bulk carriers scheduled for delivery in 2012. ?Incorporated in 1980 in Hangzhou, the company is a holding unit of state-owned Zhejiang Communications Investment Group. Zosco reported revenues of 800 million yuan last year. ?Iron ore and coal ocean shipping are the company's main businesses, it said in the IPO proposal.  [01/04/10]

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