Guangzhou Port looks to share offer
One of the largest hub ports in South China is planning a share offer in the first half of 2017, seeking financing to expand business, according to a senior company executive.
Song Xiaoming, vice general manager of Guangzhou Port Co, told China Daily: “It will be a big step forward for the company’s business expansion as we are positioning to develop into an international shipping centre.”
Guangzhou’s IPO plan on the Shanghai Stock Exchange was approved in January 2017 by securities regulator China Security Regulatory Commission.
According to the company, the funds will be raised for the construction of new docks and berths at the port in Nansha district, Guangzhou.
Four berths with a handling capacity of 100,000 metric tonnes of containers each and two 70,000 tonne container berths will be built as part of phase three at Nansha port, with an investment of more than CNY7.4bn.
Mr Xiaoming continued to tell China Daily that the construction of the new berths and docks will help improve efficiency and business expansion of Nansha port.