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26 March 2019 The on-line newspaper devoted to the world of transports 13:04 GMT+1

July 6, 2018

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COSCO Shipping is ready to yield until 15.1% of the capital stock of OOIL

The sale will be put into effect if necessary to maintain the conformity regarding the regulations of the Stock exchange of Hong Kong

Shipowning group Chinese COSCO Shipping Holdings has announced today the decision to sell until 94,5 million actions of the Orient Overseas (International) Ltd. (OOIL), pairs to 15.1% of the total capital stock of the society of Hong Kong, to the aim to assure that the floating one is not inferior to 25% of the capital and therefore to respect the conditions of admission of the Stock exchange of Hong Kong as established from the regulations of the securities market near which OOIL is quoted by on July 31, 1992.

The unit price of sale of the actions is of 78,67 dollars of Hong Kong, for a total of 7,4 billion dollars of Hong Kong (USA 947 million dollars). The sale will happen alone if the quota the floating one comes down beneath of 25% and its consistency is pairs to that demand in order to maintain such quota above such limit.

We remember that a year it makes COSCO Shipping, with harbour group Chinese SIPG, has introduced an offer of the value of USA 6,3 billion dollars in order to buy the OOIL, takeover that in recent days Chinese antitrust is authorized by the authority(on July 10, 2017 and 29 june 2018).

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