Cosco seeks strategic investors for leasing unit

Cosco seeks strategic investors for leasing unit

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.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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