SIPG announces share sale

Trading was suspended today of shares of Shanghai International Port (Group), China's biggest port operator, as it announced plans to sell 1.76 billion shares at 4.49 yuan apiece in a private placement of shares to buy two port projects from its parent. SIPG is not the only port entity to being making waves on the Shanghai stock exchange. Hong Kong-listed Dalian Port is also gearing up for a Shanghai IPO to help expansion plans.

Source: Seatrade Asia