COSCO Pacific Ltd. , one of the world??s five largest container terminal operators, bought 113 million B-shares more or a 4.25% stake in China International Marine Containers (Group) Co., Ltd. (CIMC) , the worlds largest container maker, at HKD 1.665 billion as of March 6, 2008.
COSCO Pacific, which acquired the B-shares of the container maker through its wholly owned subsidiary COSCO Container Industries Limited registered in Bermuda, started the purchase from December 10, 2007. Until now, it has held a 20.48% stake in the Shenzhen-based container maker. B-share is a kind of share issued by Chinese domestic companies and bought only by foreign investors by foreign currencies.
Before the purchase, COSCO Pacific and its subsidiaries held 432 million A-shares or a 16.23% stake in the container maker. A-share is also issued by Chinese domestic companies but bought only by domestic investors (excluding Taiwan, Hong Kong and Macao).
By February 29, 2008, COSCO Pacific and its subsidiaries took about 1.6615 billion shares in the container maker.
COSCO Pacific, which acquired the B-shares of the container maker through its wholly owned subsidiary COSCO Container Industries Limited registered in Bermuda, started the purchase from December 10, 2007. Until now, it has held a 20.48% stake in the Shenzhen-based container maker. B-share is a kind of share issued by Chinese domestic companies and bought only by foreign investors by foreign currencies.
Before the purchase, COSCO Pacific and its subsidiaries held 432 million A-shares or a 16.23% stake in the container maker. A-share is also issued by Chinese domestic companies but bought only by domestic investors (excluding Taiwan, Hong Kong and Macao).
By February 29, 2008, COSCO Pacific and its subsidiaries took about 1.6615 billion shares in the container maker.