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Photo: Lianyungang Port
The strategic reorganisation of Yangtze River Delta ports is about to reach a new level.
Shanghai International Port Group (SIPG) plans to take a 23.08% stake in Lianyungang Port Group to become its second-largest shareholder.
Lianyungang Port Holdings, controlled by the government of China’s Jiangsu province, is currently the largest shareholder with an 89% stake, but plans to issue 372 million shares to SIPG for Rmb1.5bn ($235.75m).
SIPG, which owns most of the terminals in Shanghai, and Lianyungang Port, will make joint capital ...
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