Qingdao Port prepares for 2007 IPO in HK or China
The Qingdao Port Group is lining up an initial public offering for this year in either Hong Kong or on mainland China to finance its container terminal expansion goals, Xinhua reports.
Chang Chuande, president of the Qingdao Port Group, said the company has been holding talks on launching its IPO with international investment banking and securities firms, including UBS, Goldman Sachs and BOC International.
The scale of the IPO is not yet known, although the company said it will list its core businesses of container handling, coal, iron, ore and crude oil.
A source from the Qingdao Port Group said the company has been mulling over the proposal to launch an IPO for a "very long time" and has established a dedicated team to work on the details of the plan.
Experts expect the proposed IPO will enable the Qingdao Port Group to expand its business through promoting its brand name with the ultimate goal of becoming a major terminal operator in the Bohai Rim, or even the whole country.
China's port sector has been attracting growing attention from the stock market in recent years as more port operators in China have been seeking listings in either Hong Kong or on the mainland, including big names such as the Shanghai Port Group, Dalian Port and Xiamen Port, the report added.
Chang Chuande, president of the Qingdao Port Group, said the company has been holding talks on launching its IPO with international investment banking and securities firms, including UBS, Goldman Sachs and BOC International.
The scale of the IPO is not yet known, although the company said it will list its core businesses of container handling, coal, iron, ore and crude oil.
A source from the Qingdao Port Group said the company has been mulling over the proposal to launch an IPO for a "very long time" and has established a dedicated team to work on the details of the plan.
Experts expect the proposed IPO will enable the Qingdao Port Group to expand its business through promoting its brand name with the ultimate goal of becoming a major terminal operator in the Bohai Rim, or even the whole country.
China's port sector has been attracting growing attention from the stock market in recent years as more port operators in China have been seeking listings in either Hong Kong or on the mainland, including big names such as the Shanghai Port Group, Dalian Port and Xiamen Port, the report added.