Nanjing Tanker to re-list

Jan 04 2019


Nanjing Tanker Corp, a subsidiary of Sinotrans & CSC, is to be rejoin the Shanghai Stock Exchange on 8th January, 2019.

Its opening price will be CNY4.31 ($0.63) per share, the company said in a stock exchange announcement.

Before the holiday period, the company had gained bank credit support, which will help it re-list and invest in future projects.

The tanker owner suffered financial losses for four years from 2010 to 2014, resulting in the de-listing process in that year.

A restructuring programme was carried out, including the sale of VLCCs, the termination of several leased contracts, forming joint-ventures and disposing of some of its non-core assets, according to local sources.

 

 



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