Shanghai IPO for Cosco still on the cards

China Cosco Group, the country's top shipping conglomerate, is still working on plans for a group listing, though no timetable was given, the Shanghai Securities News said.


A listing of state-owned Cosco Group, the parent company of Cosco Holdings, has always been on the cards and plans are still underway, Cosco Chairman Wei Jiafu said in an interview with the paper.


Wei also said Cosco expected the global container shipping market to grow between 8-10 percent in 2011 to reach 150 million TEUs.
(Source:http://www.cargonewsasia.com)