Shandong Shipping is planning to delist its shares from a Chinese over-the-counter market, paving the way for an overseas initial public offering (IPO) at later stage.
The company said that for its "strategic development" and to have smoother operations in the capital markets, its board is proposing to delistfrom the National Equities Exchange and Quotations (NEEQ).
“This will help us launch an overseas IPO in the future,” Shandong Shipping said in a regulatory filing.
