Biz Scene: Market
China Daily | Updated: 2007-09-26 07:16
Share offering
China State Shipbuilding said yesterday it completed a share offering worth 12 billion yuan.
The company sold 400 million new shares to eight investors at 30 yuan each, receiving 3 billion yuan in cash and the remaining 9 billion yuan in shipbuilding assets from its parent, it said in a statement.
China State Shipbuilding has said it will buy more assets from its parent as it steps up expansion to meet robust demand. But it has ruled out the possibility of taking over two of its major sister companies, Jiangnan Shipyard (Group) Co and Hudong Zhonghua Shipbuilding (Group) Co, in the near term.
(China Daily 09/26/2007 page15)
Photo
