Finance / China
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Rongsheng IPO Highlights Boom For Chinese Shipping
August 2008 | IPO News AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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Chinese shipbuilder Jiangsu Rongsheng Heavy Industries is aiming to raise up to US$2bn in an overseas public offering, in an attempt to find the funds to finance rapid expansion. With both private and state-owned shipbuilders in China reaping massive profits from increased global trade and the consequent demand from shipping lines, Rongsheng is hoping to tap capital markets overseas in order to capitalise on the ever increasing volume of Chinese imports.