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COSCO SHIPPING Holdings Co ( (HK:1919) ) has issued an update.
COSCO SHIPPING Holdings Co., Ltd. announced a significant transaction involving the construction of fourteen vessels, with a total investment of US$3,080 million. This move is part of the company’s strategic expansion to strengthen its fleet and improve its competitive positioning in the shipping industry. The transaction is classified as both a disclosable and connected transaction under Hong Kong’s Listing Rules, requiring independent shareholder approval. The company plans to finance up to 60% of the contract price through external debt or bank loans, with the remainder funded from internal resources.
More about COSCO SHIPPING Holdings Co
COSCO SHIPPING Holdings Co., Ltd. is a major player in the shipping industry, primarily involved in the construction and operation of vessels. The company focuses on expanding its fleet to enhance its market presence and operational capabilities.
YTD Price Performance: -4.75%
Average Trading Volume: 460
Technical Sentiment Signal: Sell
Current Market Cap: $29.85B
Learn more about 1919 stock on TipRanks’ Stock Analysis page.