Qingdao Port (Group) Co., Ltd., in North China's Shandong Province, plans an initial public offering on the renminbi-denominated stock market in 2008, said Chang Dechuan, chairman and president of the company. The company has submitted an IPO application to the China Securities Regulatory Commission (CSRC), the nation's securities regulator, and will invite oversea strategic investors this year, said Chang Dechuan.
The Port of Qingdao, the main asset of the company, dealt with 265 million tons of cargo and 9.462m teu in 2007, up 18.2% and 22.9% from a year earlier. It plans to handle 300m tons of cargo and 10m teu this year and have CNY 10bn revenues.
The Port of Qingdao, the main asset of the company, dealt with 265 million tons of cargo and 9.462m teu in 2007, up 18.2% and 22.9% from a year earlier. It plans to handle 300m tons of cargo and 10m teu this year and have CNY 10bn revenues.