COSCO SHIPPING announces A-share repurchase plan

COSCO SHIPPING Holdings announced a plan to repurchase between 50 million and 100 million of its A-shares through centralized bidding, signaling confidence in the company's intrinsic value. The maximum repurchase price is set at CNY 14.83 per share, potentially totaling between CNY 741.5 million and CNY 1.483 billion, sourced from the company's own funds. The repurchased shares will be cancelled to reduce registered capital. The repurchase period will run from April 8, 2025, until the conclusion of the 2024 Annual General Meeting, expected on May 28, 2025, unless otherwise specified. The company confirmed that key stakeholders, including directors, supervisors, senior management, controlling shareholders, and shareholders holding 5% or more of the company's shares, currently have no plans to reduce their holdings. The company will ensure compliance with all regulatory requirements throughout the repurchase process.