COSCO SHIPPING's private placement boosts Shenzhen port stake

COSCO SHIPPING Specialized Carriers (SSE:600428) announced the successful completion of its private placement of A-shares, resulting in a significant equity shift. The offering, priced at ¥5.86 per share, involved the issuance of 597,269,624 new shares. Shenzhen Port Group emerged as a notable investor, acquiring 170,648,464 shares and a 6.22% stake in COSCO SHIPPING, underscoring confidence in its prospects. China Ocean Shipping (Group) acquired 298,634,812 shares and an 11% stake. With this placement, COSCO's registered capital increased to ¥2,743,920,395. China Ocean Shipping remains the controlling shareholder. Proceeds will strengthen COSCO's financial position, supporting its growth strategy.