Stocks News
- Guangdong News
Date: 30-Jan-2007 Sources: (Shenzhen Daily)
PORT operator Guangzhou Port Group aims to raise up to US$750 million from an initial public offering (IPO) in the fourth quarter of 2007, the South China Morning Post reported yesterday, citing sources.
The newspaper said the State-owned firm could sell shares in Hong Kong before an offering on the mainland, but exact details had yet to be decided. Guangzhou Port, which has 639 berths and 47 container terminals on the mainland, plans to invest 20 billion yuan (US$2.57 billion) to expand annual capacity to 350 million tons of cargo and over 10 million 20-foot containers by 2010, the paper said. It gave no listing details.
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