The company will float on it’s ‘home’ exchange in Shanghai. Credit: Shutterstock.

Shanghai Jinjiang Shipping, part of Shanghai International Port Group (SIPG), said it is targeting RBM3bn ($416m) for its initial public offering (IPO) when it will float 15% of its shares on the Shanghai Stock Exchange. 

As SIPG owns 98% of Jinjiang at the moment, the IPO will not shift the overall control of the company away from the parent company. 

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Jinjiang operates between China and Japan but has expanded to offer services around Asia and to Brazil. 

The company started in 1983 and opened a Japanese subsidiary in Tokyo and Osaka in 2001. 

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