Cosco Shipping Leasing is aiming to raise cash and bring in new strategic investors through a listing plan in China.
The subsidiary of China Shipping Development (CSD) wants to float on the Shanghai United Assets and Equity Exchange, it said in a statement.
Cosco will retain control following the move, the size of which has yet to be announced.
It wants to "enhance the financial strength and promote the development of the leasing business," it said.
In November, Cosco Shipping Leasing ditched a plan to increase its stake in China Bohai Bank in a CNY 1.76bn ($253m) deal.
It said it would waive its right to subscribe for additional shares placed by the lender.
In a statement to the Shanghai Stock Exchange, it added that the move was being made in consideration of capital layout and capital allocation efficiency.
Shareholders had approved the stock increase in 2017.
CSD is the state-owned Cosco group's vessel and container finance and leasing arm.
