COSCO SHIPPING International Reallocates 1.59 Million Singapore Dollars Of Rights-Issue Proceeds

SGX Filings

09/29

COSCO SHIPPING International (Singapore) Co., Ltd. announced on Sep, 29 2025 that it has reallocated 1.59 million Singapore dollars of net proceeds from its 272.2 million Singapore dollars renounceable non-underwritten rights issue.

The sum, initially earmarked for repaying bank borrowings, will instead help finance logistics infrastructure and investment opportunities, including the development of Jurong Island Logistics Hub Phase II.

After the revision, 149.91 million Singapore dollars of the net proceeds is designated for debt repayment, of which 96.66 million Singapore dollars has already been applied. A total of 122.29 million Singapore dollars is now set aside for logistics projects, with 1.13 million Singapore dollars spent so far, leaving 118.36 million Singapore dollars unutilised.

The board said it will continue to provide updates on further deployment of the remaining proceeds.

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