SHANGHAI: China Shipbuilding Industry Co, the country’s largest ship equipment maker, raised US$2.2bil in a heavily subscribed IPO priced at the top end of expectations, despite a tough outlook for the global shipping industry.
China Shipbuilding Industry’s initial public offering (IPO) comes as the shipping sector is mired in a second year of a downturn due to tight credit markets and a slow recovery in global trade.
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