China's largest shipping firm, state-owned cosco, will float an IPO on the Shanghai Stock Exchange on June 26. Online purchases of the stock will begin tomorrow, June 18.

The 1.78 billion shares will go for somewhere between 7.60 yuan and 8.48 yuan per share. The company's stock on the Hong Kong Stock Exchange is currently going for 9.64 Hong Kong dollars per share, so the Shanghai price is a good deal. Analysts expect the price to go to 15 yuan a share early in trading.

COSCO plans to use the money raised from the IPO to buy 12 new container ships and expand port facilities.