Greater China

CSC Phoenix raises $38m from share sale

Shanghai: CSC Phoenix, the in debt bulker subsidiary of Sinotrans&CSC, has managed to raise $38m from a share sale.

Three individuals bought a total of 73m shares, the line’s court-appointed receiver said.

The line’s listing in Shenzhen has been suspended since the end of last year. CSC Phoenix managed to chalk up a profit in the first half of this year.  [08/09/14]

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