Hong Kong-based COSCO International Holdings Ltd<517> announced that its controlling shareholder COSCO Hong Kong Group raised its shareholding in the company to 58.03% from the previous 57.9%.
According to the company's filing with the Hong Kong Stock Exchange, COSCO Hong Kong, which is a wholly owned subsidiary of state-owned China Ocean Shipping (Group) Co. (COSCO Group), has acquired 2 million shares in COSCO International at an average price of HK$3.301 per share. However, details of the transaction are not available at present.
Last month, the Hong Kong-listed company said it has agreed to buy 100% of COSCO International Trading Co. (CITC) for RMB 142 million. After the acquisition, the company will become the sole owner of COSCO International Ship Trading Co. (CIST), in which CITC and COSCO International currently hold 40% and 60% stake respectively.
COSCO International is mainly engaged in ship trading and supplying services, manufacturing and trading of coating products, and property development and property investment.
According to the company's filing with the Hong Kong Stock Exchange, COSCO Hong Kong, which is a wholly owned subsidiary of state-owned China Ocean Shipping (Group) Co. (COSCO Group), has acquired 2 million shares in COSCO International at an average price of HK$3.301 per share. However, details of the transaction are not available at present.
Last month, the Hong Kong-listed company said it has agreed to buy 100% of COSCO International Trading Co. (CITC) for RMB 142 million. After the acquisition, the company will become the sole owner of COSCO International Ship Trading Co. (CIST), in which CITC and COSCO International currently hold 40% and 60% stake respectively.
COSCO International is mainly engaged in ship trading and supplying services, manufacturing and trading of coating products, and property development and property investment.