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COSCO Shipping International Singapore Co Ltd ( (SG:F83) ) has issued an announcement.
COSCO Shipping International Singapore Co Ltd announced a re-allocation of S$21.5 million from its recent rights issue proceeds, originally intended for logistics infrastructure projects, to repay subsidiary bank borrowings. This decision follows successful negotiations to reduce construction costs and aims to optimize financial management by reducing interest expenses, reflecting a strategic move to enhance the company’s financial efficiency.
More about COSCO Shipping International Singapore Co Ltd
COSCO Shipping International Singapore Co Ltd operates in the logistics and shipping industry, focusing on the development and management of logistics infrastructure and investment opportunities.
Average Trading Volume: 7,600,664
Technical Sentiment Signal: Strong Sell
Current Market Cap: S$550.9M
See more insights into F83 stock on TipRanks’ Stock Analysis page.