Hong Kong-listed Dalian Port, one of the largest port operators in China, is looking to raise between Rmb5.4 billion and Rmb6 billion $813 million to $903 million from a Shanghai initial public offering.
If successful, it will be the third port IPO in Shanghai this year. However, the two port operators that went public before Dalian -- Ningbo Port and Tangshan Port -- both received a lukewarm response and are struggling to stay above their IPO prices amid a weak market and worries about China’s monetary policy tightening.
Observers think China's domestic A-share market will remain volatile. “China will need to raise interest rates three to four times in the coming quarters...
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