State-owned giants China Shipbuilding Industry Corporation (CSIC) and China State Shipbuilding Corporation (CSSC) head a list of at least seven Chinese shipbuilders believed to be planning stock market listings. CSIC is looking to raise about US$900 million on the A-share market while CSSC has its eye on Hong Kong, the Financial Times reported, citing bankers familiar with the situation. The other five companies targeting listings are Jiangsu Rongsheng Heavy Industries, Sinopacific, Mingde Nantong, Yantai Raffles Shipbuilding and JES International. All are privately owned. JES begins the roadshow next week for its Singapore stock offering, which it hopes will raise US$300 million. Sinopacific is said to be aiming to bring in US$660 million in an IPO next year and Mingde has yet to decide between the Hong Kong and Singapore exchanges. Chinese shipbuilding is close to an all-time high, and the companies aim to raise capital in order to branch out into the construction of more advanced vessels.
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