Jin Jiang Shipping IPO fails to hit target, but shares rise
Shanghai Jin Jiang Shipping (JJ Shipping), the liner subsidiary of Shanghai International Port Group (SIPG), ...
HD: DIY RE-PRICINGZIM: A RISING TIDE LIFTS ALL BOATSTSLA: CHINA THREATDAC: KEY REMARKSDAC: SURGING GM: SUPPLY CHAIN WOESMAERSK: ROTTERDAM TEMPORARY SUSPENSION OF OPERATIONSATSG: OWNERSHIP UPDATERXO: COYOTE FILLIP GONEGM: SUPPLY CHAIN HITBA: CUT THE FAT ON THE BONER: STEADY YIELDMAERSK: SELL-SIDE UPDATESDAC: TRADING UPDATE OUT SOONTSLA: FEEL THE PAIN IN CHINAWMT: GUESS WHATXPO: SURGINGAMZN: LOOKING FORWARD
HD: DIY RE-PRICINGZIM: A RISING TIDE LIFTS ALL BOATSTSLA: CHINA THREATDAC: KEY REMARKSDAC: SURGING GM: SUPPLY CHAIN WOESMAERSK: ROTTERDAM TEMPORARY SUSPENSION OF OPERATIONSATSG: OWNERSHIP UPDATERXO: COYOTE FILLIP GONEGM: SUPPLY CHAIN HITBA: CUT THE FAT ON THE BONER: STEADY YIELDMAERSK: SELL-SIDE UPDATESDAC: TRADING UPDATE OUT SOONTSLA: FEEL THE PAIN IN CHINAWMT: GUESS WHATXPO: SURGINGAMZN: LOOKING FORWARD
Splash247.com’s Adis Ajdin reports:
Shanghai International Port Group (SIPG) intends to spin off and list its shortsea container shipping subsidiary Jin Jiang Shipping.
The board of directors of SIPG has authorised the company and the management of Jin Jiang Shipping to start the preliminary preparations for the spin-off.
The spin-off will not cause the company to lose control over Jin Jiang Shipping, nor will it affect other businesses of the company, SIPG said in a regulatory filing with the Shanghai Exchange.
Established in 1983, Shanghai Jin Jiang Shipping has a fleet of 38 containerships, of which 29 are owned. According to data from Alphaliner, the company has a carrying capacity of around 34,000 teu and four ships on order, totalling 7,600 teu.
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