REPORT: SINOTRANS’ PUBLIC OFFERING TO RAISE $436 MILLION
The initial public offering of Sinotrans Ltd., the large Chinese freight forwarding group, will raise about $436 million, Reuters reported.
Sinotrans, a state-owned company that recently was converted into a corporation, intends to sell about 1.56 billion “H shares,” representing 38.5 percent of its issued share capital, in addition to shares sold through special allotments.
Trading in the company’s shares is expected to start on Feb. 13 (Thursday).
Sinotrans confirmed recently that UPS, DHL, Exel and Nissin will buy shares in the group.