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Reporters' Log

Ningbo port applies for domestic float

By Jiang Wei (chinadaily.com.cn)
Updated: 2009-03-09 16:09

Ningbo Port Group has submitted an application to the China Securities Regulatory Commission for a domestic listing, Ifeng.com reported on March 9.

Related readings:  Regulator: New listing norms soon  Second market readies for public offers  Stocks up 3.97% as IPO rumour clears  Mainland firms shy away from HK floats

Ningbo Port Group president Li Linghong was quoted by the website of the Hong Kong-based Phoenix TV as saying the group was still awaiting government approval but did not elaborate.

Ningbo Port's throughput volume is expected to remain flat or increase slightly this year thanks to the country's economic stimulus package, Li said at the sidelines of the annual session of the National People's Congress.

The port's throughput volume hit 10.84 million twenty-foot equivalent units (TEUs) last year, up 16 percent from 2007. It is the second biggest port in the Chinese mainland and the fourth largest in the world.

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