Once more into the IPO breach with TS Lines
And we hope that in six-12 months’ time… well, hang in there
Photo: VesselFinder
Shanghai Jin Jiang Shipping (JJ Shipping), the liner subsidiary of Shanghai International Port Group (SIPG), was listed on the Shanghai Stock Exchange today after an IPO that failed to raise its targeted funds.
CNY2.18bn ($308m) was raised, with the net proceeds being $290.68m after deducting issuance expenses – $136.1m below target.
The funds will go towards ordering more new ships and containers and digitalisation – JJ Shipping’s prospectus outlined plans to deploy newbuildings to its coastal shipping subsidiary, Shanghai Haihua Shipping.
JJ Shipping, ...
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