Dalian Port to issue new shares

Dalian Port to issue new shares

Dalian: Shanghai and Hong Kong listed Dalian Port has announced a plan to issue up to 1.475bn New H Shares on the Hong Kong Exchange, representing around 33.33% of the total issued shares of the company.

The price of the new shares will be determined by the board after taking into account the interests of existing shareholders, investors’ capabilities and potential issuance risks.

The proceeds of the share issue will be used for the development of the oil business of the company, investment in and optimization of domestic and overseas ports by the company, the construction of logistics facilities and replenishment of working capital.

The issue of the proposed new share issue is subject to obtaining approvals from authorities.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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