Sinotrans Shipping privatisation approved by court

Sinotrans Shipping privatisation approved by court

Sinotrans Shipping has announced that the company’s scheme of privatisation has been approved by the High Court of Hong Kong yesterday.

Sinotrans Shipping announced the scheme in November, which includes the sale of 65.13% of its issued shares for up to HK$3.37bn ($430m).

Following the court approval, Sinotrans Shipping will be officially delisted from Hong Kong Stock Exchange on January 14.

The company made the decision of delisting as the trading liquidity of its shares has been at a low level over a period time which makes it difficult for shareholder to execute on-market disposals without adversely affecting the share price.

Sinotrans Shipping owns a fleet of over 61 ships, made up of 42 bulkers, 13 containerships, four tankers and two OSVs.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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