Cosco has announced that its subsidiary Cosco Shipping Leasing has proposed to increase its capital through a public listing on the Shanghai United Assets and Equity Exchange.
The company said the capital increase is for the purpose of seeking strategic investors. The terms and scale of the capital increase has yet to be determined.
Cosco expects it will remain as the controlling shareholder of Cosco Shipping Leasing upon completion of the capital program.
Cosco Shipping Leasing is currently fully owned by Cosco Shipping Development, and the company controls leasing assets of over RMB27.7bn ($4.08bn) in a diverse range of sectors including shipping, automobile, energy, construction and medical.