H-Share Movement | COSCO SHIP ENGY (01138) Drops Over 5% in Morning Session as 347 Million Restricted Shares Become Tradable

Stock News04-22

COSCO SHIP ENGY (01138) fell more than 5% during the morning trading session. As of the time of writing, the stock was down 3.43%, trading at HKD 18.31, with a turnover of HKD 89.68 million. The decline follows the company's recent announcement that a portion of its restricted shares is set to become eligible for trading. A total of 347 million shares, representing 6.35% of the company's total issued share capital, will be released from trading restrictions. These shares are scheduled to become freely tradable on April 22, 2026, and consist of shares allocated to institutional investors through a private placement.

In related news, Oriental Securities pointed out that transit conditions in the Strait of Hormuz have been volatile, and an increase in the number of VLCCs in the Atlantic region has put downward pressure on freight rates from the US Gulf and West Africa. Given that control over the Strait of Hormuz is a key strategic tool for Iran in its confrontation with the United States and Israel, the firm believes Iran is unlikely to ease its grip easily. As a result, improvements in transit through the Strait of Hormuz are expected to be gradual rather than immediate.

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