Dalian Port floats $279 million IPO

Exposure to China oil imports attracts four strategic investors, which will buy 1/3 of offer.
ChinaÆs growing demand for oil will be a key selling argument for Dalian Port as it aims to raise up to HK$2.16 billion $279 million in an initial public offering ahead of a listing on Hong KongÆs main board.

Dalian Port, which also operates container terminals and other value added ports services, is the main port for oil imports in Northeast China and is located close to one of four sites chosen to store ChinaÆs strategic oil reserves. This makes it well placed to benefit as crude consumption picks up, analysts say.

The state-owned enterprise, which is brought to market by BNP Paribas Peregrine and UBS, kicked off its official roadshow yesterday with...
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