Cosco Shipping Holdings to Contribute 1 Billion Yuan to Capital Increase for 10% Shareholding in SAIC Anji Logistics

MT Newswires Live12-09

Cosco Shipping Holdings (HKG:1919, SHA:601919) agreed to contribute 1 billion yuan for the 75 million yuan increase in the registered capital of SAIC Anji Logistics for 10% of its shares, a Friday Hong Kong bourse filing said.

The agreement also involves Shanghai International Port (Group) (SHA:600018) making a similar contribution for the same shareholding of the target company.

The company plans to use its internal resources for the contribution and after completion, the company will hold 10% shares of SAIC Anji Logistics.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment