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Large Medium SmallChina International Marine Containers (Group) Co Ltd, the world's largest container maker, will move the trading venue of its domestically listed B shares to Hong Kong Stock Exchange as early as Dec 19, converting its "B" shares into "H" shares, the company said.
The stock price on its first trading day on the SEHK will depend on its closing price on the "B"-share market.
The company stopped trading on the "B"-share market on Dec 14.
Industry insiders said that listing on the Hong Kong stock market will help promote the State-owned company's internationalization process.
For the first three quarters this year, CIMC registered revenues of over 40 billion yuan ($640 million) and profits of nearly 1.6 billion yuan. Its overseas business generated more than two-thirds of the enterprises' total revenues.
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