Shanghai International Port to Add Up to 10% Stake in SAIC Motor's Logistics Arm; SAIC Motor's Shares Up 6%

MT Newswires Live

2024/11/25

Shanghai International Port (SHA:600018) will increase its holdings in SAIC Motor's (SHA:600104) automobile logistics arm, SAIC Anji Logistics, by up to 10% after investing up to 1 billion yuan into Anji's capital, according to a Shanghai Stock Exchange filing on Nov. 22.

COSCO Shipping Holdings (HKG:1919, SHA:601919), another shareholder of Anji Logistics, will also participate in the capital raising plan.

After the transaction, Anji Logistics' capital will rise to 750 million yuan from 600 million yuan, the filing said.

SAIC Motor's shares jumped more than 6% in recent trade.

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