COSCO SHIP PORT (01199) intends to publicly list for sale a 25% equity stake in QINGDAO PORT Dongjiakou Ore Terminal

COSCO SHIP PORT (01199) announces that the Company's wholly-owned subsidiary Shanghai COSCO SHIP PORT Investment Co., Ltd., together with Guanxing Investment Co., Ltd. and Wanbang QINGDAO PORT Port Investment Co., Ltd., intends to sell through the Beijing Equity Exchange on a bundled listing basis an aggregate 70% equity interest in QINGDAO PORT Dongjiakou Ore Terminal Co., Ltd., including Shanghai COSCO SHIP PORT's 25% equity interest in the target company. The aggregate minimum bid price for the 70% equity interest involved in the potential disposal is approximately RMB 1.918 billion, of which approximately RMB 685 million is attributable to the disposal interest of Shanghai COSCO SHIP PORT. The target company is a limited liability company established in China and is principally engaged in the construction, operation and management of QINGDAO PORT Dongjiakou Ore Terminal. As at the date of this announcement, QINGDAO PORT International Co., Ltd., Shanghai COSCO SHIP PORT, Guanxing Investment Co., Ltd. and Wanbang QINGDAO PORT Port Investment Co., Ltd. hold 30%, 25%, 25% and 20% equity interests in the target company, respectively. Upon completion of the potential disposal, the Group will no longer hold any equity interest in the target company. The potential disposal of Shanghai COSCO SHIP PORT's disposal interest is part of the Company's overall strategic planning, which will enable the Group to realize its investment in the target company and exit from the target company, thereby optimizing the Group's resource allocation and supporting its future business development.