GEM listing candidate CMA Logistics, which serves the car industry, has set its sights on becoming a comprehensive logistics services provider, according to chairman Yin Jiaxu. 'Riding on our expertise in car logistics and supply chain management of car components, we are set on diversifying into logistics services for other industries,' he said. However, the car industry will continue to be the company's main driver of revenue growth in the near term. Shares of the Chongqing-based company will start trading tomorrow. CMA Logistics will issue a total of 55 million H shares, including five million old shares, at a placing price of $2.70 each to raise $148.5 million. The company has earmarked about 78 per cent of the proceeds, $115 million, for construction and upgrading of its distribution centres. Meanwhile, the company estimates its profit attributable to shareholders for the year to December will be at least 55 million yuan, representing a 34 per cent increase on the previous year's audited results. CMA intends to pay out at least 40 per cent of its profits for the period from May to December last year as dividends to shareholders. The company's shareholder base, which is regarded as strong, includes Changan Automobile Company (Group), a major manufacturer of vehicles and car engines in China; mainland shipping enterprise Minsheng Industrial (Group), and global logistics firm APL Logistics. Anglo Chinese is the sponsor and arranger of the listing and China Everbright Securities is the sole bookrunner and lead manager of the float.