Cosco Shipping Specialized Carriers' share buyback completed

COSCO SHIPPING Specialized Carriers (SSE:600428) announced that China COSCO Shipping Corporation Limited, the company's indirect controlling shareholder, has completed its planned increase in shareholding through its wholly-owned subsidiary, China Ocean Shipping Co., Ltd. Between October 21, 2024, and the date of this announcement, China Ocean Shipping Co., Ltd. acquired 42,266,200 shares, representing 1.54% of the company's total share capital, at a total cost of CNY 287,396,400 through centralized competitive transactions on the Shanghai Stock Exchange. Following the buyback, China Ocean Shipping Co., Ltd. directly holds 1,125,413,544 shares, accounting for 41.01% of COSCO SHIPPING Specialized Carriers. With China COSCO Shipping Corporation Limited's holdings factored in, the total ownership is 1,434,304,657 shares, or 52.27%. The company stated the buyback reflects a belief in the company's long-term value.