China’s Seacon Shipping Group is going public and is looking to raise up to $62.26m with a listing on the Hong Kong Stock Exchange.

Seacon plans to issue as many as 125m shares at the price of HKD 3.27 to HKD 3.91 per share ($0.41 to $0.49).

It will use approximately HKD 48m of the funds to expand the company’s fleet, and around HKD 6m to set up overseas offices and expand its ship-management business.