News / JJ Shipping launches bid for IPO to raise funds for new greener ships

Credit VesselFinder

Shanghai Jin Jiang Shipping, the liner subsidiary of Shanghai International Port Group (SIPG), submitted its application for an initial public offering (IPO) to the Shanghai Stock Exchange on Friday.

Commonly referred to as JJ Shipping, the firm will issue 190,412 shares, 15% of its stock to be floated, allowing SIPG, which operates most of the container terminals in Shanghai port, to maintain control.

Currently, SIPG owns 98% of JJ Shipping, the remaining 2% held through another subsidiary, Shanghai Port International Passenger Center.

Guotai ...