PYI Corp, a port and infrastructure investor, will bid for a 12 per cent stake in Nantong port near Shanghai as it boosts investment in the mainland logistics industry.
PYI owns 45 per cent of the port and the stake on offer is valued at 190 million yuan (HK$216.83 million).
On Thursday, the firm agreed to buy a 51 per cent stake in Yichang port on the Yangtze River for 149 million yuan.
The Nantong stake was for sale on the China Beijing Equity Exchange until the end of the month, PYI deputy chairman Tom Lau Ko-yuen said yesterday. The exchange is a platform for state-owned companies to sell stakes in themselves.
'We are very interested in buying the stake and confident that the deal can be finished by the end of this month,' Mr Lau said.
Nantong port contributed 34 million yuan in net earnings to the company last year.
While increasing its investment in port projects, PYI will continue to focus on land sales as its port operations are still in the early stages.