Shanghai Stock Exchange asks for clarity from Cosco and China Shipping on merger plans

Shanghai Stock Exchange asks for clarity from Cosco and China Shipping on merger plans

China Cosco Holdings and China Shipping Development (CSD) have both announced that they have received an inquiry letter from Shanghai Stock Exchange (SSE), asking for clarity of the ongoing merger deal between Cosco Group and China Shipping Group.

China Cosco Holdings has been asked by SSE to provide market information, future profitability and risk opinion on the container assets and port terminal assets to be transferred from China Shipping to Cosco, and the specific deal arrangement.

The stock exchange also required CSD to provide similar information on the tanker assets integration between the two groups.

SSE has asked the two companies to reply to the inquiries before the deadline on December 25.

Cosco and China Shipping announced a merger plan on December 11, involving assets in the container shipping, tanker and port terminals.

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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