Greater ChinaTankers
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.