COSCO Subsidiary Listed on Shanghai Stock Exchange

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Last updated at: (Beijing Time) Thursday, April 18, 2002

COSCO Subsidiary Listed on Shanghai Stock Exchange

COSCO Shipping Co. Ltd., the subsidiary of China's shipping giant COSCO Group, listed its 130 million A shares on the Shanghai Stock Exchange on Thursday.

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COSCO Shipping Co. Ltd., the subsidiary of China's shipping giant COSCO Group, listed its 130 million A shares on the Shanghai Stock Exchange on Thursday.

Sources in Shanghai said the listing was expected to raise nearly one billion yuan (about 120.48 million U.S. dollars) for the company, which offers special ocean shipping services. The proceeds would go to purchasing special ships, including semi- submerged ships, roll-on roll-off freighters and multi-purpose ships.

COSCO Shipping Co., Ltd. is one of the few companies in the world to offer such services, including the shipping of ultra-long and ultra-heavy equipment. Its long-term clients include Siemens, GE and PetroChina.

Operating a 540-strong fleet of modern ships, COSCO Group is one of the world's three largest ocean-going shipping companies, using more than 1,500 ports in 170 countries and regions.

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