Major Chinese ship builder China Shipbuilding Industry Co said on Friday it planned to raise 17.3 billion yuan ($2.55 billion) via a share placement to buy assets from its parent.
China Shipbuilding will issue 2.5 billion new shares to its state parent and six other companies at 6.93 yuan per share, it said in a stock exchange filing.
Proceeds will be used to buy shipping assets of similar value, it added.
China Shipbuilding will issue 2.5 billion new shares to its state parent and six other companies at 6.93 yuan per share, it said in a stock exchange filing.
Proceeds will be used to buy shipping assets of similar value, it added.