China Merchants Group Aims to Take Ming Wah to Market for $600 million

On a slightly less immediate front than the steady stream of shipping IPOs coming to the U.S. capital markets, China Merchants Group has announced its intention to list its oil tanker business, Ming Wah, in the A-share market in China. The group is hoping to raise up to US$600 million through the offering, and Chairman Qin Xiao has his sights set on a price to earnings ratio in the 12-15x range. The listing is expected to come to market in June or July.

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