News / Despite freight rate fall, LC Logistics goes ahead with Hong Kong IPO

Photo: VesselFinder

LC Logistics, parent of Chinese NVOCC BAL Container Line, went ahead with its initial public offering today, raising HK$145.64m ($18.63m) after listing 28.3m shares on the Hong Kong Stock Exchange at HK$5.13.

Amid the reversal of fortunes in the container shipping market, where freight rates have fallen steeply from historic peaks during Covid, LC Logistics is one of the few companies in the sector to go public.

Shanghai International Port Group liner subsidiary Shanghai Jin Jiang Shipping is expected to be listed ...