The company will be listed on its home stock exchange in Shanghai. Photo credit: Shutterstock.
Shanghai Jinjiang Shipping, part of Shanghai International Port Group (SIPG), announced that it is targeting RBM 3 billion (US$416 million) for its initial public offering (IPO) and will list 15% of its shares on the Shanghai Stock Exchange.
Since SIPG currently owns 98% of Jinjiang, the IPO will not shift overall control of the company from the parent company.
Jinjiang operates between China and Japan but has also expanded to offer services across Asia and into Brazil.
The company was founded in 1983 and opened Japanese offices in Tokyo and Osaka in 2001.
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