Sinotrans prices at top on positive outlook
Expectations of continued strong demand for dry-bulk goods offsets the impact of volatile markets, allowing the shipping company to raise $1.47 billion.
Chinese shipping services provider Sinotrans Shipping has priced its Hong Kong initial public offering at the top of the range for a total deal size of HK$11.45 billion $1.47 billion after investors seemingly chose to ignore the current volatility in the local market and focus instead on the positive outlook for dry-bulk freight rates.
ôMost people are positive about freight rates for 2008 and going into 2009, and while they are not so sure after that, this is beyond...
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