China Cosco Holdings, also known as Cosco, is China’s largest shipping company and was listed in Hong Kong in 2005. On June 26, the company listed its shares on the Shanghai exchange in an IPO. Despite market turmoil in the days preceding the listing, Cosco’s IPO raised $2 billion and the company’s stock price soared 93% in the first day of trading. Cosco plans to use the capital to buy new ships and build new port facilities to further expand the company’s capacity.
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