The current weakness of global markets means that China Ningbo Port Group will not undertake an initial public offering this year, according to China Merchants Holdings, which holds a 5.4% stake in the company. The IPO is, however, needed to raise money to fund expansion.
Shanghai International Port (Group), however, is undeterred by the economic conditions and plans to issue bonds worth $584m. China Everbright Bank will underwrite the issue.