China Shipbuilding Industry Corp (CSIC) prepares to go public this year. The ship and engine-building conglomerate is looking to rise between CNY 6bn ($793m) and CNY 7bn by issuing up to 1.6 billion A shares towards the end of the year, China Daily reported on Thursday.

The shipbuilder could push ahead to have an IPO as early as December, China Daily said. CSIC is moving to restructure before the move by merging all 16 of its subsidiaries by August into one entity to be called China Shipbuilding Industry Co Ltd, the news website said.