Alibaba's Cainiao – the classic 'canary in the coalmine'. Or?
Enter the Chinese monolith
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.