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An update from COSCO SHIPPING Holdings Co ( (HK:1919) ) is now available.
COSCO SHIPPING Holdings plans to seek shareholder approval for a new guarantees mandate to support the daily operations, investment and financing needs of its shipping and ports businesses. The proposed cap allows the group to provide guarantees of up to US$5.53 billion, including an existing balance of about US$1.2 billion and additional capacity of roughly US$4.33 billion through to the 2026 annual meeting.
The guarantees will primarily back obligations of key subsidiaries such as COSCO SHIPPING Lines, COSCO SHIPPING Ports, OOIL and new project companies, in proportion to the group’s ownership stakes. Management notes that current external guarantees amount to RMB8.253 billion, only a small fraction of net assets, and that there are no overdue guarantees, suggesting the enlarged mandate is intended to preserve financing flexibility rather than address distress.
The most recent analyst rating on (HK:1919) stock is a Sell with a HK$10.40 price target. To see the full list of analyst forecasts on COSCO SHIPPING Holdings Co stock, see the HK:1919 Stock Forecast page.
More about COSCO SHIPPING Holdings Co
COSCO SHIPPING Holdings Co., Ltd. is a Chinese joint stock company engaged in global container shipping and port operations, with key subsidiaries including COSCO SHIPPING Lines, COSCO SHIPPING Ports and Orient Overseas International Limited. The group focuses on international maritime transport, terminal services and related logistics, serving global trade and supply chains.
Average Trading Volume: 25,688,275
Technical Sentiment Signal: Buy
Current Market Cap: HK$276.6B
For detailed information about 1919 stock, go to TipRanks’ Stock Analysis page.