Nanjing Tanker to relist on January 8

Nanjing Tanker to relist on January 8

Nanjing Tanker, the tanker unit of Sinotrans & CSC, is going to relist its shares on Shanghai Stock Exchange on January 8, following the company receiving approval for relisting in November.

The company will list around 5bn shares at RMB1 each and the shares will be traded under the “special treatment” category, which has a daily trading limit, at least until the company releases its first annual report after the relisting.

Nanjing Tanker was delisted in 2014 after three years of consecutive losses and the company completed a debt restructuring after the delisting. The company transferred all its VLCC asset to China VLCC and now focuses on MR tankers, LPG carriers and small clean tankers.

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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