CHINA Shipping Container Lines Co, Asia's second-largest cargo-box carrier, won approval yesterday for a Shanghai share sale valued at as much as US$1.9 billion as it seeks funds to buy more ships.

The shipping line will sell as many as 2.34 billion shares, the China Securities Regulatory Commission said yesterday. The potential value of the sale was calculated based on the HK$6.35 price of the company's Hong Kong-listed stock.