TIANJIN Port Co plans to sell about 4.1 billion yuan (US$536 million) of new shares to its parent, from which the northern Chinese port operator will buy berths and shipping units.

Its shares surged by the daily limit. The company plans to sell as many as 226 million yuan-denominated shares at 18.17 yuan each to Tianjin Port Group Co, it said in a statement to the Shanghai Stock Exchange yesterday. Tianjin Port will then acquire the assets, which it said may add 396 million yuan to profit in 2007.