Cosco: may see renewed interest as ultimate parent, China Ocean Shipping Group reiterates group restructuring plans, as well as group listing plans.
This could revive speculation that Cosco may benefit from possible earnings accretive asset injections from its parent. The assets include i) 19% stake in Cosco Shipyard (51% owned by Cosco currently), and ii) 100% stake in Cosco Shipbuilding Industry Company (CSICO) which owns 2 shipbuilding yards in Nantong and Dalian…
Recall, after Citi mooted this idea in Jan this yr, the stock went on to climb 10% to its recent peak of $2.44, before the company issued a statement saying it was not yet in discussions for such developments.
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