China Shipping to raise $2.6 bln in share placement

SHANGHAI, July 16 (Reuters) - Major Chinese ship builder China Shipbuilding Industry Co (601989.SS) said on Friday it planned to raise 17.3 billion yuan ($2.55 billion) via a share placement to buy assets from its parent.

China Shipbuilding will issue 2.5 billion new shares to its state parent and six other companies at 6.93 yuan per share, it said in a stock exchange filing.

Proceeds will be used to buy shipping assets of similar value, it added. ($1=6.777 Yuan) (Reporting by Fang Yan and Jacqueline Wong; Editing by Jonathan Hopfner)