Nanjing Tanker to Relist on Shanghai Exchange in January

Chinese transportation company Nanjing Tanker Corporation, part of Sinotrans & CSC, will relist on Shanghai Stock Exchange on January 8, 2019.

The opening price of its stock will be CNY 4.31 (USD 0.63) per share, the company said in its relisting report.

Earlier this week, the company said it has been granted bank credit support which would help Nanjing Tanker relist and implement future projects.

The tanker shipping company suffered financial losses for four consecutive years from 2010, triggering the delisting process in 2014.

It carried out restructuring by divesting some of the non-performing VLCC assets, terminating several leased contracts, forming joint-venture companies and disposing of some of its non-core assets.

World Maritime News Staff