COSCO Shipping Ports (01199) plans to list and sell a 25% equity stake in Qingdao Port Dongjiakou Ore Terminal

Zhitong Finance APP News, COSCO SHIPPING Ports (01199) announced that its wholly-owned subsidiary Shanghai COSCO SHIPPING Ports Investment Co., Ltd., together with Guanxing Investment Co., Ltd. and Wanbang Qingdao Port Investment Co., Ltd., intends to sell a total of 70% equity interest in Qingdao Port Dongjiakou Ore Terminal Co., Ltd. through a bundled listing on the Beijing Equity Exchange, including the 25% equity interest held by Shanghai COSCO SHIPPING Ports 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 equity interest sold by Shanghai COSCO SHIPPING Ports.