Yantian Port raising funds for overseas investment

Yantian Port raising funds for overseas investment

Shanghai: Shenzhen-listed Yantian Port has announced that it plans to issue RMB2.2bn ($354m) worth of bonds on the Shenzhen Stock Exchange.

The bond could be issued in one time or several times to qualified investors, and the raised fund will used for overseas investment, loan repayment and replenishment of working capital.

Yantian Port said it is currently accelerating its development process of a new river port project in Huangshi of Hubei, and a coal terminal in Huizhou Port of Guangdong.

Yantian Port reported a net profit of RMB74.5m ($12m) for the first quarter of 2015, down by 33.24% from RMB111.7 ($18m) in the same period of 2014.

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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