Shenghang Shipping applies for Shenzhen IPO

Chinese domestic tanker shipping operator Nanjing Shenghang Shipping has applied with the China Securities Regulatory Commission for an initial public offering on Shenzhen Stock Exchange. The company is looking to raise RMB500m ($71.4m) from the IPO. The proceeds will mainly be used for the acquisition of five tankers and investment on a big data project. …

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