Pacific Basin Shipping Limited has become the first bulker owner to list its shares in the Shenzhen – HK stock connect list.
Hong Kong, 4 September 2017 – Pacific Basin Shipping Limited (“Pacific Basin” or the “Company”, SEHK 2343), one of the world’s leading dry bulk shipping companies, is pleased to announce its selection as an eligible stock for Southbound Trading under Shenzhen-HongKong Stock Connect ("SZ-HK Stock Connect"). The Group has also been included in the Hang Seng Stock Connect Hong Kong Index Series, consisting of the Hang Seng Stock Connect Hong Kong Index ("HSHKI"), the Hang Seng Stock Connect Hong Kong MidCap & SmallCap Index ("HSHKMS"), and the Hang Seng Stock Connect Hong Kong SmallCap Index (“HSHKS”). The index revision is effective from 4 September 2017.
Mr. Mats Berglund, CEO of Pacific Basin, said: “We are very pleased to be included in the SZ-HK Stock Connect scheme. The southbound trading mechanism will help to enhance Pacific Basin’s profile in the mainland Chinese capital markets, and potentially enlarge our shareholder base in China where our business of transporting raw materials is likely to have a particular resonance”.
About Pacific Basin
Pacific Basin Shipping Limited is one of the world’s leading owners and operators of modern Handysize and Supramax dry bulk vessels. As at 30 June 2017, the Company operates about 250 dry bulkships of which 101 are owned and 156 are chartered. Pacific Basin is listed and headquartered in Hong Kong, and provides a quality service to around 500 customers, with approximately 3,000 seafarers and 330 shore-based staff in 12 offices in key locations around the world.
About SZ-HK Stock Connect
SZ-HK Stock Connect is a security trading and clearing links programme for establishing mutual market access between Hong Kong and Mainland China. The mutual order-routing connectivity will enable investors in their respective markets to trade designated securities listed in the other’s market. Under SZ-HK Stock Connect, Mainland investors are able to trade selective SEHK Securities. These include all the eligible stocks for southbound trading under Shanghai Connect, theconstituent stocks of the Hang Seng Composite SmallCap Index (“HSSI”) which have a market capitalisation of not less than HKD 5 billion.
Source(s):Pacific Basin
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