November 2 -- Ningbo Port (601018.SH) won the approval of the China Securities Regulatory Commission to issue up to two billion yuan worth of corporate bonds, reports yicai.com, citing a company filing.

The company had carried out its initial public offering on September 24 last year, and had raised 7.21 billion yuan.

Through the end of June, the company had utilized 6.89 billion yuan from the funds raised from its initial public offering.

Ningbo Port announced on September 10 that it plans to purchase a 20 percent stake in Ningbo International Bank for 525 million yuan from Indonesia's BII and Western Oceanic Bridge Limited, becoming the bank's largest shareholder.

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Source:CapitalVue