hong-kong-ship-owner-seeks-to-relist

Hong Kong ship owner seeks to re-list

Wah Kwong aims to raise up to $150 million to expand its dry-bulk fleet, but pre-marketing will extend into this week.
Small-scale ship owner Wah Kwong Maritime Transport is planning to join the wave of companies seeking to list in Hong Kong over the next few weeks, taking advantage of the recent bounce in the stockmarket and improving confidence among global investors. The aim is to raise between $100 million and $150 million, which it will primarily use to fund a doubling of its fleet of dry-bulk carriers and tankers from 11 to 22 vessels.

Bankers say the current market conditions offer a window of opportunity for companies that wish to go public after a highly volatile first quarter that saw six companies call off their initial public offerings before pricing in Hong Kong alone. However,...
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