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COSCO Shipping Heavy Industry has taken its first formal step towards listing on the Shanghai Stock Exchange as an A-share.
China's securities regulator revealed that the shipbuilding and ship repair giant registered for listing guidance on September 12, with CICC and China Merchants Securities appointed as advisors.
The Shanghai-based company, wholly owned by state-owned COSCO, completed its transformation into a joint-stock company in June, paving the way for the planned IPO. Its registered share capital amounts to 3.6 billion yuan (505 million dollars).
COSCO Shipping Heavy Industry operates nine large and medium-sized shipyards covering shipbuilding, repair and conversion, offshore construction, and marine equipment.
By the end of 2025, its order book amounted to 216 vessels totaling 24.77 million deadweight tons, with 76 vessels under construction. The company is also a giant in the repair and conversion sector, managing over 1,500 vessels annually, and has consolidated a particularly strong position in the conversion of floating production, storage, and offloading (FPSO) platforms.
