Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
An announcement from CSSC (Hong Kong) Shipping Company Limited ( (HK:3877) ) is now available.
CSSC (Hong Kong) Shipping Company Limited has entered into a set of novation agreements under which the rights and obligations of the original charterers in several ship charters will be transferred to new charterers, and, once conditions are met, the company will be released from its existing obligations under the original charter guarantees from the effective date. At the same time, the company has agreed to provide new guarantees of up to US$73.1 million to support the new charterers’ performance under the novated charters; while these guarantees are treated as a series of related transactions under Hong Kong listing rules, their size keeps them below the threshold for a notifiable transaction, signalling continued support of key leasing clients without triggering more onerous regulatory requirements.
The most recent analyst rating on (HK:3877) stock is a Buy with a HK$2.50 price target. To see the full list of analyst forecasts on CSSC (Hong Kong) Shipping Company Limited stock, see the HK:3877 Stock Forecast page.
More about CSSC (Hong Kong) Shipping Company Limited
CSSC (Hong Kong) Shipping Company Limited is a Hong Kong-incorporated ship leasing and maritime financing company, focused on providing chartering, leasing and related financial solutions to shipping operators, with exposure to charter guarantees and structured lease arrangements within the global maritime transport sector.
Average Trading Volume: 16,435,384
Technical Sentiment Signal: Buy
Current Market Cap: HK$12.71B
For detailed information about 3877 stock, go to TipRanks’ Stock Analysis page.