Port operators eye stakes

Dalian Port is to sell 10% if its shares to Hutchison Whampoa and three other port operators when it lists in a US$278 million initial public offering in Hong Kong by the end of the month, the South China Morning Post reported. PSA International of Singapore, Nippon Yusen Kaisha of Japan and China's Shipping Container Lines will buy into the operator of China's largest oil terminal. Dalian Port will offer 840 million shares at US$0.28 to US$0.33 – a price to earnings ratio of 15.09 and 17.87 times respectively.