COSCO Group acquires shares in its container business COSCO Shipholding

Photo: Reuters

COSCO Shipping Corporation has acquired another 0.72% stake in Hong Kong-listed COSCO Shipholding, bringing its ownership of the company’s total issued “A” share capital to 52.04%.

The group’s subsidiaries also purchased an additional 0.22% of the H shares of COSCO Shipholding.

It follows a RMB 3 billion stake increase plan announced in May 2022. China COSCO Shipping Corporation has now spent RMB 1.68 billion of the allocation, with the possibility of spending another RMB 1.2 billion by May 20, 2023 .

Source: Alphaliner

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