News / Ningbo Ocean Shipping eyes $261m for new ships from IPO in Shanghai

Credit: VesselFinder

Ningbo Ocean Shipping (NBOSCO), plans to raise around $261m in an IPO on the Shanghai Stock Exchange to expand its fleet of containerships and bulk carriers, and buy 10,000 teu of containers.

The go-ahead for the listing came on Friday, although the decision to go for the IPO was made back in December 2020.

Parent group Ningbo-Zhoushan Port, which is controlled by the Chinese government and oversees China’s second-busiest container port, holds 1.06 billion NBOSCO shares, 90% of its share capital, with the other ...