China Shipping plans Shanghai listing to fund vessel purchases

China Shipping plans Shanghai listing to fund vessel purchases China Shipping plans to list itself on the Shanghai Stock Exchange in order to raise $1.3 billion, Chinese news outlets reported Sunday.
   Parent company China Shipping (Group) will see its holding fall from 59.87 percent to 47.89 percent as a result of the listing.
   The carrier, which is already listed on the Hong Kong Stock Exchange, will use most of the funds to add 16 new vessels to its fleet of 151 ships. According to China Daily, China Shipping has assets worth more than $4 billion.