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DEALSTREETASIA reports that Zhonggu plans to use IPO proceeds “to purchase containers and container ships”.
– The listed entity is Shanghai Zhonggu Logistics
– The deal was reportedly oversubscribed (7.5x)
– Zhonggu Shipping controls Shanghai Zhonggu Logistics (background here) and maintains a majority stake post-IPO
– CICC was the lead underwriter of the deal.
The full story can be read here.