BIZCHINA> Top Biz News
Economy slows shipyards' IPO plans
By Tong Hao (chinadaily.com.cn)
Updated: 2009-04-08 13:50
Comments( China Daily Website - Connecting China Connecting the World

Sorry, the page you requested was not found.

Please check the URL for proper spelling and capitalization. If you're having trouble locating a destination on Chinadaily.com.cn, try visiting the Chinadaily home page

Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
) PrintMail

The IPO hopes of China Shipbuilding Industry Corp (CSIC), one of the country's largest shipyards, are being obstructed by the deteriorating shipbuilding industry worldwide, an industry supervisor said.

Related readings:
Economy slows shipyards' IPO plans Shipbuilders still in doldrums
Economy slows shipyards' IPO plans Glut of steel could worsen as shipbuilding orders plunge
Economy slows shipyards' IPO plans Shipbuilder's revenue up 26% in 2008
Economy slows shipyards' IPO plans Shipbuilders in consolidation mode

"The possibility of CSIC to get listed in 2009 is quite low due to the industrial downturn,"said Zhang Guangqin, president of China Association of the National Shipbuilding Industry.

Zhang said the gloomy stock market in China is also a big reason.

CSIC had planned to launch an IPO in A-share market at the end of 2008 or in early 2009. Zhang said the company completed all preparation work last year.

"All it needs to do now is to wait for a right time,"Zhang said.

Jiangsu Rongsheng Heavy Industries Group, China's largest private shipyard, also suspended its IPO plan this year due to the global financial crisis.


(For more biz stories, please visit Industries)
Comments( China Daily Website - Connecting China Connecting the World

Sorry, the page you requested was not found.

Please check the URL for proper spelling and capitalization. If you're having trouble locating a destination on Chinadaily.com.cn, try visiting the Chinadaily home page

Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
) PrintMail
Popular in 24 Hours
Popular in 1 Week