Chinese domestic tanker shipping operator Nanjing Shenghang Shipping has applied with the China Securities Regulatory Commission for an initial public offering on Shenzhen Stock Exchange.
The company is looking to raise RMB500m ($71.4m) from the IPO. The proceeds will mainly be used for the acquisition of five tankers and investment on a big data project.
The company terminated its listing on China’s National Equities Exchange and Quotations (NEEQ) in August 2018.
Shenghang Shipping is focused on petrochemical product shipping in the domestic coastal and river markets, currently operating a fleet of 17 tankers with a total capacity of 106,700 dwt.