DSA: Chinese container shipping operator Zhonggu eyes $218m in Shanghai IPO

Businessman looks on collapse domino effect. Stress resistance business. Financial stability. Recovery business. Evaluation of cash risks. Creating a strategy. Management and planning. Decision making

By LoadstarEditorial

22/09/2020

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.

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Topics

IPO Shanghai Zhonggu Logistics Zhonggu Shipping Break-up DB Schenker Deutsche Bahn M&A radar Porsche private equity

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