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.