Qin­huang­dao Port drops at open trad­ing in HK de­but

China Daily (Hong Kong) - - BUSINESS DIGEST -

Qin­huang­dao Port Co, op­er­a­tor of the world’s big­gest coal hub, dropped as much as 5.7 per­cent in its Hong Kong trad­ing de­but on Thurs­day. The port op­er­a­tor, based in He­bei prov­ince, raised HK$4.36 bil­lion ($562 mil­lion) by sell­ing 829.85 mil­lion shares. Qin­huang­dao Port also runs ter­mi­nals in Caofei­d­ian Port and Huanghua Port in North­ern China’s Bo­hai Rim and plans to use about 65 per­cent of net pro­ceeds from the list­ing to help pay for con­struc­tion of two 200,000 ton-level ore berths in Huanghua Port. The 5.49 bil­lion yuan (4904 mil­lion) project is sched­uled for com­ple­tion next year. The com­pany and as­so­ciates op­er­ate a to­tal of 62 berths and han­dled about 336 mil­lion tons of com­modi­ties in 2012, ac­cord­ing to its prospec­tus.

Newspapers in English

Newspapers from China

© PressReader. All rights reserved.