MILAN, Jul 17 (Class Editori) - China Eastern Logistic is heading towards the Shanghai Stock Exchange to invest in its facilities and improve its network. As reported by the economic-financial weekly Caixin, the carrier's logistics company China Eastern has submitted its application for admission and is aiming to raise 2.4 billion yuan.
The IPO will serve to diversify the ownership structure, completing the process of restructuring of the governance started in 2017. In fact, up until two years ago the company was 100% controlled by the carrier. However, the public share is now reduced to 45%,due to the entry of Legend Holding, the controlling shareholder of Lenovo and of Global Logistic Properties and Deppon Logistic.
An important part of the cargo carrier's development programs could take place in Italy. During the event 'Belt and Road 2', the forum on opportunities along the new Silk Road organized by Class Editori and MF-Milano Finanza, in collaboration with Xinhua and the China Economic Information Service (Ceis), the vice president of Shanghai carrier Fan Earning has expressed its intention to reflect on the potential expansion in Italy, starting from Milan. “Now, from a logistical point of view, our main airports for cargo shipments in Europe are still Amsterdam and Frankfurt. Yet we are looking for opportunities to expand in Italy in the future. In this context, Milan could potentially serve as a new gateway for cargo shipments. We can't wait to do it,” explained Fan.
In recent months, Eastern Logistic has also been one of the Chinese companies part of the delegation visiting the new Business City of Fiumicino airport, the business citadel which intends to become a reference center for conferences, served by 2 new hotels. The works will begin this year: the first 4 buildings in the district will be available between 2022 and 2023, while the remaining 3 will open in 2024.
In 2018, explained Fan, the volume of imports and exports on China's cargo flights to Italy reached 166 thousand tons (+1.9%). The flows from Italy towards China recorded a 7.4% leap, a sign of, according to Fan, the interest of Chinese consumers for Made in Italy products . Overall, the volume of cargo exchanges between the China and Europe reached 1.7 million tons.
(Source:Class Editori)
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