China United Lines (CUL) have launched a bid for an initial public offering
(IPO) on the Hong Kong stock exchange. It filed an initial application on 31
January 2022, with proceeds from the IPO to be used to fund new ships and
further overseas expansion.
CUL was established in 2005 and is currently based in Shanghai. The company is
controlled by Raymond Chen Hong Hui (through interests held by his spouse) and
is currently 80% owned by Chen and 20% by Guangzhou Port. It reported total
revenues