Central government-controlled China Shipping (Group) Co said it plans to auction its entire 100 pct holding in China Shipping Terminal Development Co Ltd, setting a floor price of 2.6 bln yuan.
According to a statement published on the Shanghai United Assets and Equity Exchange, potential bidders should be state-owned or state firm-controlled container shipping companies with net assets of over 3.013 bln yuan.
Potential bidders should also have container shipping volume of at least 1.65 mln twenty-foot equivalent units (TEUs) at Shanghai port and no less than 1.3 mln TEUs at Guangzhou port, it added.
The deadline for the bids is July 31, according to the statement.
Shanghai-based China Shipping Terminal Development, which has registered capital of 2.04 bln yuan, booked net profit of 10.7 mln yuan in 2007.
The bid is designed for China Shipping Group's listed arm China Shipping Container Lines Company Ltd.
It announced plans in March to buy 100 pct of China Shipping Terminal from its parent for about 2 bln yuan.
According to a statement published on the Shanghai United Assets and Equity Exchange, potential bidders should be state-owned or state firm-controlled container shipping companies with net assets of over 3.013 bln yuan.
Potential bidders should also have container shipping volume of at least 1.65 mln twenty-foot equivalent units (TEUs) at Shanghai port and no less than 1.3 mln TEUs at Guangzhou port, it added.
The deadline for the bids is July 31, according to the statement.
Shanghai-based China Shipping Terminal Development, which has registered capital of 2.04 bln yuan, booked net profit of 10.7 mln yuan in 2007.
The bid is designed for China Shipping Group's listed arm China Shipping Container Lines Company Ltd.
It announced plans in March to buy 100 pct of China Shipping Terminal from its parent for about 2 bln yuan.