ContainersGreater China

Zhonggu Logistics commences IPO on Shanghai Stock Exchange

Chinese domestic container operator Zhonggu Logistics has commenced an initial public offering (IPO) on the Shanghai Stock Exchange today.

The company announced the IPO plan in May last year, after terminating its listing on the National Equities Exchange and Quotations (NEEQ).

The company is looking to issue 66.67m shares to raise around RMB1.5bn ($220m) from the IPO.

The company will use the proceeds from the IPO for the acquisition of new containerships and containers.

Alphaliner data shows Zhonggu Logistics operates a fleet of 115 ships with total capacity of around 168,000 teu, making it the 13th largest container line in the world and the largest domestic container shipping company in China.

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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