COSCO SHIPPING International (Singapore) announced an update on the deployment of net proceeds from its renounceable non-underwritten rights issue on Jun, 23 2026.

The company raised about 272.2 million Singapore dollars in net proceeds after deducting roughly 1.0 million Singapore dollars in expenses. As at the latest update, a further 9.99 million Singapore dollars has been disbursed, lifting total utilisation to 196.01 million Singapore dollars and leaving a balance of 76.19 million Singapore dollars.

Of the funds used, 149.91 million Singapore dollars have gone towards repaying bank borrowings, while 46.10 million Singapore dollars (36.11 million Singapore dollars previously and 9.99 million Singapore dollars in the latest period) have been channelled to partially finance the construction or acquisition of logistics infrastructure and investment projects, including the development of JILH Phase II.

The board said future disbursements of the remaining proceeds will be announced as they occur and detailed in forthcoming financial reports.