China Cosco Plans Private Placement To Fund Acquisition
Shipping and ports operator China Cosco Holdings Co. said it plans to raise around 24 billion yuan ($3.19 billion) through a private placement to fund the purchase of some of its parent company’s dry-bulk cargo assets. China Cosco said it intends to sell as much as 1.3 billion yuan-denominated Class A shares, or about 12.7% of its enlarged share capital, in two tranches.
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