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COSCO Shipping International Singapore Co Ltd ( (SG:F83) ) has issued an update.
COSCO Shipping International (Singapore) Co., Ltd. has raised net proceeds of approximately S$272.2 million from its renounceable non-underwritten rights issue of over 2.23 billion new ordinary shares, after deducting about S$1 million in costs and expenses. The company has used S$149.91 million of the proceeds to fully repay bank borrowings, strengthening its balance sheet, and has deployed S$15.07 million towards logistics infrastructure projects and investment opportunities, including the development of JILH Phase II, leaving a remaining balance of S$107.22 million earmarked primarily for further logistics infrastructure construction or acquisitions and related investments.
The most recent analyst rating on (SG:F83) stock is a Hold with a S$0.12 price target. To see the full list of analyst forecasts on COSCO Shipping International Singapore Co Ltd stock, see the SG:F83 Stock Forecast page.
More about COSCO Shipping International Singapore Co Ltd
COSCO Shipping International (Singapore) Co., Ltd. is a Singapore-incorporated company engaged in shipping-related and logistics-focused businesses through its group of subsidiaries, with a strategic emphasis on developing logistics infrastructure to support regional trade and supply chain activities.
Average Trading Volume: 2,200,061
Technical Sentiment Signal: Strong Sell
Current Market Cap: S$532.9M
See more data about F83 stock on TipRanks’ Stock Analysis page.