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Orient Overseas (International) ( (HK:0316) ) just unveiled an announcement.
Orient Overseas (International) Limited has announced a major transaction involving the construction of fourteen vessels with Nantong and Dalian, subsidiaries connected to COSCO SHIPPING. The transaction, valued at approximately US$3,080 million, is classified as a major and connected transaction under Hong Kong’s Listing Rules, requiring independent shareholder approval. The company plans to finance up to 60% of the contract price through external debt, with the remainder funded internally. The vessels are expected to be delivered between 2028 and 2029, with specific terms for payment and penalties for delays or technical non-conformance.
More about Orient Overseas (International)
Orient Overseas (International) Limited is a company incorporated in Bermuda, primarily involved in the shipping industry. It operates through its subsidiaries and is connected with COSCO SHIPPING, which holds a significant equity interest in the company.
YTD Price Performance: -2.76%
Average Trading Volume: 233
Technical Sentiment Signal: Sell
Current Market Cap: $9.28B
See more insights into 0316 stock on TipRanks’ Stock Analysis page.