COSCO Shipping Energy raises $8bn in A-share offering for fleet expansion

COSCO Shipping Energy Transportation Co., Ltd. has announced a successful 2025 non-public offering of A-shares, raising a total of CNY 7,999,999,994.88. The offering, priced at CNY 11.52 per share, resulted in the issuance of 694,444,444 new shares, increasing the company's total share capital to 5,465,220,839 shares. The offering was completed on October 22, 2025, with share registration and custodial processes finalized.

The offering attracted seven investors, including China COSCO Shipping Group Co., Ltd., the indirect controlling shareholder, which subscribed to 347,222,222 shares, representing 50% of the total. China COSCO Shipping Group’s shares will be subject to an 18-month lock-up period, while other investors will have a 6-month lock-up period. The transaction, facilitated by Cathay Haitong Securities Co., Ltd., received all necessary regulatory approvals.

The proceeds, totaling a net of CNY 7,979,510,279.32 after deducting issuance expenses, will primarily fund the investment and construction of 6 VLCCs, 2 LNG carriers, and 3 Aframax crude oil tankers. This capital injection is expected to enhance the company's asset quality and debt-paying ability while optimizing its capital structure.