Dalian Port said on Wednesday it would trim the total number of A-shares to be issued in its planned listing by 37.5 percent due to current market conditions and the economic environment.
In a filing to the Hong Kong bourse, north China's biggest port operator said it would issue a total of up to 1.5 billion A shares, down from 2.4 billion A shares as earlier planned. It did not elaborate further.
The company said it was still awaiting formal regulatory approval on the A-share issue.
Last week, Dalian Port proposed to raise about $997 million by issuing up to 2.4 billion new shares, half of which are A-shares and the other half to the controlling shareholder Dalian Port Corp Ltd.
In a filing to the Hong Kong bourse, north China's biggest port operator said it would issue a total of up to 1.5 billion A shares, down from 2.4 billion A shares as earlier planned. It did not elaborate further.
The company said it was still awaiting formal regulatory approval on the A-share issue.
Last week, Dalian Port proposed to raise about $997 million by issuing up to 2.4 billion new shares, half of which are A-shares and the other half to the controlling shareholder Dalian Port Corp Ltd.