CMHI Backs Qingdao Port
Qingdao Port International held its listing ceremony in Hong Kong on June 6, attended by CMHI executives, as well as corporate representatives from the Hong Kong Stock Exchange, investment banks and cornerstone investors.
As of the end of 2013, Qingdao Port has become the sixth largest port in the world in terms of throughput tonnage, and is now connected with more than 180 nations and 700 ports by sea traffic.
Attracted by the prospective future of the Qingdao Port, the China Merchants International Holdings Limited (CMHI) became one of the six sponsors of Qingdao Port for its IPO, and the second largest shareholder with 3.26% equity interest in Qingdao Port.
Dr Hu Jianhua, the Managing Director of China Merchants International Holdings Limited stated: “The Company has more than 20 years history of cooperation with Qingdao Port on the ports and bonded logistics businesses, as a long term strategic partner based on our existing strategic investment in Qianwan port zone of Qingdao.
The investment in the listed company level of Qingdao Port is due to our faith to the promising growth outlook and profitability on the overall assets of the Qingdao Port.
This new partnership would not only be a good investment opportunity for us, but also would be a win-win cooperation opportunity for each other’s business in Qingdao, which would in turn enhance our long term relationship on cooperation in the future.”
June 9, 2014