Shanghai-listed Ningbo Port has announced that China Merchants Group has become the second largest shareholder of the company after increasing its shareholding.
China Merchants Group and its affiliates have increased their total shareholding in Ningbo Port to 5%, overtaking SIPG’s position as the second largest shareholder in the port.
Ningbo Port said that it is possible China Merchants will further increase its shareholding in the company in the next 12 months.
China Merchants Port Holdings is the largest port operator in China and it now has a port network portfolio spanning 41 ports in 25 countries and regions.
