Cosco Shipping Holdings (HKG:1919, SHA:601919) agreed to contribute 1 billion yuan for the 75 million yuan increase in the registered capital of SAIC Anji Logistics for 10% of its shares, a Friday Hong Kong bourse filing said.
The agreement also involves Shanghai International Port (Group) (SHA:600018) making a similar contribution for the same shareholding of the target company.
The company plans to use its internal resources for the contribution and after completion, the company will hold 10% shares of SAIC Anji Logistics.
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