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COSCO SHIPPING Ports ( (HK:1199) ) has provided an update.
COSCO SHIPPING Ports announced a capital contribution agreement with CSNAH to inject a total of US$20,570,000 into their joint venture, COSCO SHIPPING Terminals (USA) LLC, with CSPD contributing US$8,228,000 and CSNAH contributing US$12,342,000. This transaction, classified as a connected transaction under Hong Kong’s listing rules, aims to support the joint venture’s obligations related to the liquidation of SSA Terminals (Seattle), LLC, and highlights COSCO SHIPPING’s strategic financial maneuvers to maintain its industry positioning and fulfill its operational commitments.
The most recent analyst rating on (HK:1199) stock is a Hold with a HK$5.51 price target. To see the full list of analyst forecasts on COSCO SHIPPING Ports stock, see the HK:1199 Stock Forecast page.
More about COSCO SHIPPING Ports
COSCO SHIPPING Ports is a leading global terminal operator in the shipping and logistics industry. The company primarily focuses on managing and operating container terminals and related services, with a significant presence in key international ports.
YTD Price Performance: 34.10%
Average Trading Volume: 4,561,532
Technical Sentiment Signal: Strong Buy
Current Market Cap: HK$23.05B
For detailed information about 1199 stock, go to TipRanks’ Stock Analysis page.