Hong Kong stock exchange approves listing of China Shipping
The Hong Kong stock exchange has formally approved the listing of the “H” shares of China Shipping Container Lines Ltd.
The shares in the company, previously wholly owned by state-controlled China Shipping Group, were offered to the public and institutional investors last week in an initial public offering that raised about $985 million.
Trading in the Shanghai-based carrier’s H shares will commence 9:30 a.m. Wednesday.
Investors have reportedly decided to buy shares in China Shipping Container Lines at the lower end of the proposed HK$3.175-HK$4.175 price range.