Chinese Shipbuilders Plan IPOs – Raphael Minder and Jamil Anderlini

From The Financial Times:

At least seven Chinese shipbuilders are planning share offerings, underlining China’s efforts to build up its domestic fleet and branch out into the construction of more advanced vessels.

The largest of the anticipated initial public offerings is likely to come from state-owned China Shipbuilding Industry Corporation (CSIC) , which wants to raise about $900m on the Chinese mainland A-share market, according to bankers familiar with the situation. The other major state-owned shipbuilder, China State Shipbuilding Corporation (CSSC) , is considering a share sale in Hong Kong. The companies refused to comment. [Full Text]

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