Shipbuilder plans IPO in first half of 2010

QINGDAO: China Shipbuilding Industry Co, the country's second-largest shipbuilding company, expects to float its shares in an initial public offering during the first half of next year, a top executive at its parent company said yesterday.

Li Changyin, general manager of China Shipbuilding Industry Corp, however, said the precise timing of the flotation depended upon regulatory approval.

"We are still in the queue for the final green light from the CSRC (China Securities Regulatory Commission)," Li said at the 6th World Shipping Summit in Qingdao yesterday.