22 September 2018

Qinhuangdao Port shoots for US$717 mln IPO, paper says

China’s biggest coal port operator by capacity Qinhuangdao Port Co. is raising up to US$717 million in an initial public offering in Hong Kong, the Wall Street Journal reported Monday, citing term sheets for its Dec. 12 listing. The port company is selling 829.9 million shares, or 16.5 percent of its enlarged share capital, in an indicative price range of HK$5.25-HK$6.70 each (US$0.68-US$0.86), the report said. It has secured a total US$240 million in cornerstone investments from seven investors, including Zhongrong International Trust Co. and China National Coal Group.

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