The shipbuilding and maintenance arm of state-owned marine transport giant China Cosco Shipping has completed initial public offering (IPO) guidance registration, paving the way for a domestic listing to capitalise on a global shipbuilding boom.
Cosco Shipping Heavy Industry finished its pre-IPO registration and preparations, according to information released on the China Securities Regulatory Commission website on Saturday.
Specialising in cargo and container vessels, the unit offers construction, repair, conversion, maintenance and offshore engineering services. It is wholly owned by China Cosco Shipping, headquartered in Shanghai.