COSCO Shipping Energy completes $8 bn a-share placement

COSCO SHIPPING Energy Transportation Co., Ltd. (SSE:600026) has announced the completion of its RMB 7,999,999,994.88 A-share issuance to specific targets. A total of 694,444,444 new shares were issued at RMB 11.52 per share. The new shares were registered on October 22, 2025, with the China Securities Depository and Clearing Corporation Limited, Shanghai Branch.

The issuance involved seven subscribers, including the company's indirect controlling shareholder, China COSCO Shipping Group Co., Ltd., which subscribed for 347,222,222 shares, subject to an 18-month lock-up period. Other subscribers include National Green Development Fund Co., Ltd. and China Structural Reform Fund Phase II Co., Ltd., with their shares subject to a six-month lock-up. This issuance increases the company's total share capital to 5,465,220,839 shares, with 12.71% being restricted shares, without altering the company's control.

The transaction, approved by the Shanghai Stock Exchange and the China Securities Regulatory Commission, is expected to enhance the company's capital structure and financial health. The newly issued shares will be listed for trading on the Shanghai Stock Exchange after their respective lock-up periods expire.