China Shipbuilding Industry Corp (CSIC), one of the nation’s leading shipbuilding groups, will seek an initial public offering (IPO) in 2007, according to sources close to the State-owned Assets Supervision and Administration Commission (SASAC).
Headquartered in Beijing, CSIC is reportedly planning a new issue of around 1.6 billion A shares to raise between 6 and 7 billion yuan (between US$793.3 billion and US$925.3 billion), the sources said.