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.
