Qingdao Port kicks off roadshow

The port operator becomes the latest company to attempt a Hong Kong flotation in difficult markets.

Qingdao Port International began formal roadshows Monday and aims to raise up to $377 million in a Hong Kong initial public offering next month, the latest company to test the city’s uncertain IPO market.

The state-owned port operator plans to sell 776.4 million new shares at HK$3.76 each, with BOC International, Citic Securities International and UBS leading the deal. The listing is scheduled for June 6, according to a term sheet.

It is the second attempt at a Hong Kong listing after pork producer WH Group yanked its much awaited offering one month ago.

Of the shares on offer, 90% will be primary,...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222