Ningbo Port plans Hong Kong listing
By Zhou Yan | China Daily | Updated: 2011-03-09 07:59
BEIJING - Ningbo Port Co, the operator of the country's second-biggest port by throughput, still intends to go public in Hong Kong - after its debut in Shanghai in September - to raise capital for the tens of billions it plans for future investment, a top port official said on Sunday.
"We have plans to list in Hong Kong, but so far there's no timetable for the listing," Li Linghong, president of the listed firm's parent Ningbo Port Group, told China Daily.
Li, also a deputy of the National People's Congress, said that the company plans to invest 40 billion yuan ($6.1 billion) in port terminals, equipment, logistics, and inventory systems during the 12th Five-Year Plan (2011-2015) period.
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