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Seacon Shipping Group Holdings Ltd. ( (HK:2409) ) just unveiled an update.
Seacon Shipping Group Holdings Limited has entered into novation agreements to take over six shipbuilding contracts from a previous buyer at no consideration, assuming all rights and obligations to purchase six vessels for a total of US$198.6 million, after the previous buyer made no instalment payments. In tandem, the group has arranged finance lease structures under which it will sell each vessel to leasing vehicle owners for US$28.135 million and bareboat-charter them back through its subsidiaries, backed by a corporate guarantee, with both the novation and the finance lease arrangements classified as major transactions under Hong Kong Listing Rules and therefore subject to shareholder approval and disclosure requirements.
More about Seacon Shipping Group Holdings Ltd.
Seacon Shipping Group Holdings Limited is a Hong Kong-listed shipping company engaged in owning and operating vessels, with its business focused on the acquisition, chartering and financing of ships through its various wholly owned subsidiaries.
Average Trading Volume: 104,066
Technical Sentiment Signal: Hold
Current Market Cap: HK$2.09B
For detailed information about 2409 stock, go to TipRanks’ Stock Analysis page.