COSCO Shipping announces A shares buyback plan and H shares arrangement

COSCO Shipping Holdings (HKEX: 1919) announced plans for an A Shares Repurchase Plan and an H Shares Repurchase Arrangement, approved by the Board on April 8, 2025, following mandates approved at the 2023 annual general meeting. The A Shares plan aims to repurchase between 50 million and 100 million A Shares, representing approximately 0.32% to 0.63% of the company's total share capital, using a maximum repurchase price of RMB14.83 per share, capped at a total fund allocation of RMB1.483 billion. The repurchase, to be conducted via centralized price bidding on the Shanghai Stock Exchange, will take place between April 8, 2025, and the conclusion of the 2024 annual general meeting expected May 28, 2025. All repurchased A shares will be cancelled, reducing registered share capital. In addition to the A Share plan, the company intends to repurchase H Shares under the general mandate. The Board states that the arrangement won't trigger mandatory offer obligations under the Takeovers Code.