There is another major breakthrough in the listing work in Dalian: October 18, Dalian
Port (PDA) Co. Ltd. (hereinafter referred to as the Dalian Port ), with the approval of the Verification Committee of the China Securities Regulatory Commission CSRC , will issue A shares in the Shanghai Stock Exchange, becoming the first Chinese port operator with shares listed on stock exchanges in both HK and the PRC, breaking the hard ice that there has never been a Dalian company listed on the main board of the Shanghai Stock Exchange since 2002.
Dalian Port will issue A shares in a combination of public offering and directed placement to achieve the whole Dalian Port Group s appearance on the market. The public offering and directed placement will each account for 50%, no more than 2.4 billion shares, expecting to raise funds of 4.0 billion yuan. Upon completion of the issuance, the total share capital will be not more than 5.326 billion shares and the combination of the IPO + directed placement will create a precedent in the domestic capital market.
In April, 2006, Dalian Port issued H shares in the Hong Kong Stock Exchange, raising 2.5 billion yuan. As the largest container hub port and the largest transporting, storing and distributing base for oil and liquid chemicals in the Northeast, one of the China s largest professional automotive terminals, the leading domestic coastal port with rail-and-sea coordinated transport volumes ranking the first nationwide, Dalian Port, with its A shares issuance and the whole group listing on the market, will undoubtedly promote sound and rapid development and speed up the construction of the International Shipping Center of Northeast Asia. The Raised capital proceeds of Dalian Port will be used for 14 projects including oil / liquid chemicals terminals, ore, general cargo and bulk grain terminals, an automotive terminal and related logistics services, etc.
From: Finance Office Of Dalian Municipal Government
