China Shipbuilding to launch $937 mln Shanghai IPO

China Shipbuilding Industry Co, the country's biggest ship equipment producer, said on Wednesday it would launch an initial public stock offering as it needs 6.4 billion yuan ($937 million) to expand capacity to produce equipment such as ship engines.
China Shipbuilding plans to issue up to 2 billion A shares denominated in yuan, or up to 30 percent of its expanded share capital after the IPO, for a listing on the Shanghai Stock Exchange, it said in a share issue prospectus published in the official Shanghai Securities News.

Source: http://www.forbes.com