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Chinese port aims to raise large sum with listing

The Port of Qingdao in China wants to raise USD 300 million with a listing in January in Shanghai. The capital will be used to expand the port area, reports Lloyd's List.

Photo: Ritzau Scanpix

Major Chinese port Qingdao is looking to raise around USD 300 million with a listing in January on the Shanghai Stock Exchange, reports Lloyd's List.

The capital from the listing, planned for Jan. 9, will mainly be used for an extensive expansion of the port's area. Qingdao's plans include building new oil storage and berths for multipurpose ships, while some of the money will, according to a prospectus, also be spent on upgrading the port systems as well as bolstering working capital.

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