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COSCO SHIPPING Energy Transportation Co ( (HK:1138) ) has shared an announcement.
COSCO SHIPPING Energy Transportation Co., Ltd has announced a proposed issuance of A Shares to specific target subscribers, intending to raise up to RMB8 billion. This move is part of a connected transaction involving a subscription agreement with COSCO SHIPPING, which will acquire 50% of the new shares. The issuance price will be determined through bidding and must meet specific pricing criteria. This development requires shareholder approval at upcoming meetings, reflecting its potential impact on the company’s capital structure and governance. The company plans to distribute a detailed circular regarding these proposals to stakeholders by February 2025.
More about COSCO SHIPPING Energy Transportation Co
COSCO SHIPPING Energy Transportation Co., Ltd is a joint stock limited company incorporated in the People’s Republic of China. It operates within the shipping industry, focusing primarily on the transportation of energy resources. The company is a subsidiary of COSCO SHIPPING, which is a major player with significant control over its operations.
YTD Price Performance: 21.69%
Average Trading Volume: 1,351
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $7.34B
Learn more about 1138 stock on TipRanks’ Stock Analysis page.
