Money

China Shipbuilding plans $1.9b private placement

(Agencies)
Updated: 2011-04-12 11:15

SHANGHAI - China Shipbuilding Industry Co Ltd plans to raise up to 12.5 billion yuan ($1.9 billion) by selling new shares to a select group of investors, the company said on Tuesday.

China Shipbuilding will issue up to 1 billion yuan-denominated A-shares in the Shanghai share sale, it said in a statement with the Shanghai Stock Exchange.

Trading in China Shipbuilding shares had been suspended since March 18. The stock was last traded at 13.19 yuan a share.