Pacific Basin Aims to Strengthen Position in China

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Image Courtesy: Pacific Basin

Pacific Basin Shipping, the Hong Kong-listed dry bulk carrier has been included an eligible stock for Southbound Trading under Shenzhen-Hong Kong Stock Connect.

The company has also been included in the Hang Seng Stock Connect Hong Kong Index Series, that comprises 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 September 4, 2017.

Mats Berglund, CEO of Pacific Basin stated, “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.”