SIP PLANS HONG KONG FLOAT
Shanghai International Port (SIP), now the worlds third busiest, is planning to raise US$800m on the Hong Kong stock exchange as a means of funding its expansion programme.
The contract for consultancy was awarded to Singapore’s Jurong Consultants and made on behalf of Horizon Singapore Terminals Pte Limited (HSTL).
Leading investment banks have already been contacted to act in an advisory capacity to the authority. Such an IPO, which would imply selling a 25% equity stake, would value SIP at US$3.2 billion.
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