Expansion through IPO

China's shipbuilders are advancing steadily towards global expansion, with at least seven major shipping companies putting IPO plans in the pipeline.

As the Baltic Dry Index that measures dry bulk shipping rates has more than doubled over the past years, China's shipping industry is approaching an all-time high. China Shipbuilding Industry (CSIC) is one of the key players in taking this initiative. Established in July 1999, the state-owned enterprise is China's largest in design, manufacturing and trading of military and civil ships, marine engineering and marine equipment. CSIC also specializes in investment and capital management and is targeting to raise US$900 million on the Ashare market. In addition, China State Shipbuilding Corporation (CSSC), another state-owned shipbuilder also founded in 1999, is planning to list on the Hong Kong market. Jiangsu Rongsheng Heavy Industries, Sinopacific, Mingde Nantong, Yantai Raffles Shipbuilding and JES International are the other companies to consider selling equity.
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