Cosco Shipping's Unit to Dispose 20% Stake in Subsidiary for 83 Million Yuan

MT Newswires Live

2024/12/26

Cosco Shipping Holdings' (HKG:1919, SHA:601919) subsidiary COSCO Shipping Lines (Dalian) agreed to sell its 20.07% equity interests in Angang Auto Transport to COSCO Shipping Logistics Supply Chain for 83.0 million yuan on Tuesday, a same-day Hong Kong bourse filing said.

After the completion, the group will cease to hold any interest in the target company.

The group stands to record a book gain of 3.5 million yuan from the transaction and plans to use the proceeds from the disposal for its general working capital.

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