IPO move expected to raise US$500-US$600m, says report
(SHANGHAI) China's third-largest shipper, Sinotrans, plans to list a unit in Hong Kong, an executive said yesterday, in a move expected to raise US$500-US$600 million as it joins a growing list of Chinese firms going overseas to raise money.
The sprawling Sinotrans Group - a partner of DHL and UPS in China - aimed to raise the money via a share offering of one of its many shipping arms, the official Shanghai Securities News reported, citing company sources
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