COSCO SHIPPING International (Singapore) Co., Ltd has received approval in principle from the Singapore Exchange Securities Trading Limited (SGX-ST) for a proposed renounceable, non-underwritten rights issue. This initiative involves the issuance of up to 2,239,244,954 new ordinary shares in the company’s capital, as announced on 4 June 2025.
The rights issue is a strategic move by COSCO SHIPPING International Singapore to bolster its capital base, providing existing shareholders the opportunity to purchase additional shares. The approval from SGX-ST marks a significant step forward in the company’s financial strategy, aiming to enhance shareholder value and support future growth initiatives.
The rights issue is structured to be renounceable, allowing shareholders the flexibility to trade their rights on the open market. This approach provides an opportunity for shareholders to either increase their stake in the company or realise value through the sale of their rights.
The announcement underscores COSCO SHIPPING International Singapore’s commitment to maintaining a robust financial position and its proactive approach to capital management. The company has not disclosed specific details regarding the pricing or timeline of the rights issue, which will be communicated in due course.
This development is expected to have a positive impact on the company’s financial health, providing it with the necessary resources to pursue strategic opportunities and enhance its competitive position in the shipping industry.
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