CSSC Shipping seeks $250m valuation in Hong Kong IPO
About 1.5bn shares will be issued at a price range of HK$1.34 to HK$1.42 each. The offering has received the endorsement of state-owned investors, including China Reinsurance (Group) Corp and Cosco Shipping
Yard-backed leasing house CSSC Shipping will use about 60% of the net proceeds to strengthen the capital base of its ship-leasing business, in particular to finance 37 vessels worth nearly $1.3bn in its committed portfolio in the next three years
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