Significant Share Transfer in COSCO SHIP ENGY Involves HKD 1.19 Billion

Stock News
Jun 02

A major position transfer has been recorded for COSCO SHIP ENGY (HKEX: 01138).

Data from the Hong Kong Stock Exchange reveals that on June 1st, a transfer of shares with a total market value of HKD 1.192 billion was executed, representing 5.75% of the company's issued capital.

The transaction involved a shareholder moving 36.2344 million shares into Hongkong and Shanghai Banking Corporation Limited and transferring 33.996 million shares out of Bright Smart Securities.

This follows a recent announcement by the company on May 26th regarding a capital injection into its wholly-owned subsidiary.

COSCO SHIP ENGY stated it would increase the capital of its subsidiary, Hainan COSCO Shipping Energy Transportation Co., Ltd., by RMB 1.018 billion.

The funds for this capital increase are sourced from the proceeds of a private placement of A-shares conducted in 2025.

This capital is designated for milestone payments related to two funded projects: the construction of six Very Large Crude Carriers (VLCCs) and the construction of three Aframax crude oil tankers.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10