Guangzhou Port eyes IPO

Guangzhou Port eyes IPO

Guangzhou Port Group is accelerating its IPO process and is expected to get approval from China Securities Regulatory Commission in the first quarter of 2017, Chen Hongxian, president of Guangzhou Port Group revealed at a government meeting.

Guangzhou Port applied for the IPO in December 2014, however, the central government has been slowing down approvals on new IPO applications in the past a couple of years in an effort to stabilize the stock market.

According to Chen, Guangzhou Port expects to use the funds from the IPO to further optimize the port infrastructure and promote the restructuring of port assets in the Pearl River Delta region.

Guangzhou Port completed a cargo volume of 500m tons and a container throughput of 17.39m teu in 2015.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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