An update from COSCO Shipping International Singapore Co Ltd ( (SG:F83) ) is now available.
COSCO Shipping International Singapore Co Ltd has announced the completion of necessary filings and received an irrevocable undertaking from its major shareholder, COSCO Group, for a proposed renounceable non-underwritten rights issue. This development is a step towards increasing COSCO Group’s overseas investment in the company. The proposed rights issue is still subject to approval from the Singapore Exchange and the company’s shareholders. If approved, it will allow COSCO Group to subscribe to its pro rata entitlement and a significant number of excess rights shares, potentially strengthening the company’s financial position and market presence.
More about COSCO Shipping International Singapore Co Ltd
COSCO Shipping International Singapore Co Ltd operates within the shipping industry, focusing on providing comprehensive shipping services and logistics solutions. The company is part of the larger COSCO Group, which is a significant player in the global shipping market.
YTD Price Performance: -12.86%
Average Trading Volume: 2,740,975
Technical Sentiment Signal: Strong Buy
Current Market Cap: S$273.2M
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