Port to offer shares
By Ding Yining |
June 4, 2010, Friday
|
Print Edition
Print Edition
TANGSHAN Port Group Co plans to sell up to 200 million shares in its listing on the Shanghai market to raise funds for new dry bulk berths, the company said yesterday.
The port operator in north China will sell no more than 20 percent of its stake to raise around 100 million yuan (US$14.64 million) to fund new terminal projects in the Tangshan Port, with design throughput of 5.6 million tons per year. Online subscription for no more than 40 million shares will start on June 18.
The Jingtang Port Zone of the Tangshan Port is one of the major domestic ports for the transport of steel and coal products and is expected to have 35 berths with throughput over 100 million tons by the end of this year.
The port operator in north China will sell no more than 20 percent of its stake to raise around 100 million yuan (US$14.64 million) to fund new terminal projects in the Tangshan Port, with design throughput of 5.6 million tons per year. Online subscription for no more than 40 million shares will start on June 18.
The Jingtang Port Zone of the Tangshan Port is one of the major domestic ports for the transport of steel and coal products and is expected to have 35 berths with throughput over 100 million tons by the end of this year.
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