Guangzhou Shipyard eyes H-share sale, acquisition

Amid a tough environment for the shipbuilding industry, Guangzhou Shipyard plans to use part of the proceeds to buy another shipbuilder.

Guangzhou Shipyard eyes H-share sale, acquisition

Guangzhou Shipyard International, an integrated shipbuilding company that is listed both in Hong Kong and Shanghai, is considering a private placement of new H-shares and a possible acquisition of a shipbuilder that is majority-owned by its parent, China State Shipbuilding Corp CSSC.

The placement may raise up to Rmb2.5 billion $403 million, although the plan is for CSSC to subscribe to at least Rmb2 billion of that, it said in a filing to...

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