Today, December 4th, Shanghai International Port Group announces a major development in its subsidiary, Shanghai Jin Jiang Shipping Group Co., Ltd. The company’s application for the initial public offering (IPO) of its shares on the main board of the Shanghai Stock Exchange has been successfully approved by the Listing Review Committee and granted registration approval by the China Securities Regulatory Commission.
📅 Listing Details:
Listing Date: December 5, 2023
Stock Name: Jin Jiang Shipping
Stock Code: 601083
Issue Price: 11.25 (CNY) per share
Issue Size: 194.12 million shares (15.00% of post-issue total share capital)
Post-Issue Total Share Capital: 1,294.12 million shares
📰 Background:
In November, Jin Jiang Shipping unveiled its IPO plans, including the issuance of shares on the main board and the offering of 19.41 million shares. The company received overwhelming response during the online roadshow and officially opened for subscription on November 24th.
🔍 Utilization of Funds:
As per the prospectus released on November 30th, the raised capital will be allocated for strategic purposes:
1.908 billion(CNY) for the purchase of 8 international container ships
2.11 billion(CNY) for acquiring 2 coastal transportation container ships (1000 TEU each)
8.71 billion(CNY) for container procurement projects
35 million(CNY) for the intelligent ship retrofitting project
🌐 Strategic Move:
This IPO reflects Shanghai International Port Group’s commitment to enhancing the clarity of its core businesses. By independently listing Jin Jiang Shipping as its international and domestic maritime container transport platform, the move aims to strengthen the brand’s visibility, social impact, and competitive position in the professional services sector.
🚀 Company Profile:
Jin Jiang Shipping specializes in container liner transportation between East Asia, Southeast Asia, and the Taiwan Strait. Known for its high punctuality and distinctive services such as HDS (High Delivery Speed), the company has built a network covering major Chinese and Japanese ports, achieving a dual-centered layout.
📊 Impressive Figures:
According to Alphaliner statistics as of December 4, 2023, Jin Jiang Shipping boasts a total capacity of 47 vessels and 44,150 TEUs, ranking 33rd globally. In the first three quarters of this year, the company achieved an impressive operating income of 39.56 billion (CNY) and a net profit of 6.98 billion (CNY) .
#JinJiangShipping #IPO #MaritimeNews #ShippingIndustry #ShanghaiInternationalPortGroup
