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 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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