COSCO’s non-public issuance involves complex issues

0
2040

COSCO Shipping Development announced its proposed non-public issuance of A shares, which involved several complex legal issues under Hong Kong’s Takeovers Code, said the legal counsel involved.

COSCO’s non-public issuance The A shares would be offered to no more than 10 specific target subscribers including China Shipping (Group) Company, the controlling shareholder of COSCO Shipping. China Shipping seeks to raise RMB12 billion (US$1.74 billion) through this non-public issuance.

Bonnie Kong, of counsel at Paul Hastings’ Hong Kong office, told China Business Law Journal that China Shipping, together with parties acting in concert with it, controls or is entitled to control the exercise of voting rights in respect of approximately 39.02% of the entire share capital of COSCO Shipping.

You must be a subscribersubscribersubscribersubscriber to read this content, please subscribesubscribesubscribesubscribe today.

For group subscribers, please click here to access.
Interested in group subscription? Please contact us.

你需要登录去解锁本文内容。欢迎注册账号。如果想阅读月刊所有文章,欢迎成为我们的订阅会员成为我们的订阅会员

已有集团订阅,可点击此处继续浏览。
如对集团订阅感兴趣,请联络我们