Cosco Shipping Energy addresses exchange concerns in share issuance plan

COSCO SHIPPING Energy Transportation (SSE:600026) has released a comprehensive response report addressing the Shanghai Stock Exchange’s concerns about its proposed share issuance. The filing directly addresses questions regarding the necessity, rationale, and fairness of related-party transactions and the potential impact on the company's independent operations. It addresses the planned allocation of funds to construct six VLCCs, two LNG carriers, and three Aframax crude oil tankers. Further points of clarification include details on the project's progress, industry trends, competitive landscape, customer demand, and the potential dilution effect on existing shareholders. The company affirmed that the offering adheres to regulatory norms with specific attention to the validity and pricing of transactions involving related entities.