Shanghai: China’s southwest port operator Chongqing Gangjiu is issuing 161.5m shares on the Shanghai Stock Exchange to raise up to RMB1.2bn.
The funds raised will mainly be used to purchase 65% equity of Chongqing Guoyuan Container Terminal. The remaining capital will be added to Chongqing Gangjiu's cash flow.
Chongqing Gangjiu is one of the most advanced container handling hubs in southwest China. The company's annual container throughput accounts for 88% of that in Chongqing as a whole. [10/10/14]