Singapore-listed Cosco Corp (Singapore) looks set for a lengthy suspension from trading as it awaits the results of the restructuring of China Cosco Shippings shipyard business.
Cosco Corp holds a 50% stake in Cosco Shipyard Group and halted its shares from trading on Monday morning following an announcement last Friday by China Cosco Shipping on a restructuring of its shipyard business, which had been left out of the original merger of Cosco and China Shipping.
The new Cosco Shipping Heavy Industry has been carved out from the merged Cosco Shipping, combining the shipbuilding entities of Cosco Shipyard and Cosco Shipbuilding Industry Company, previously under China Cosco Group, and China Shipping Industry Co previously under China Shippin…
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