Summary by Moomoo AI
COSCO SHIPPING Holdings Co., Ltd. (COSCO SHIPPING Holdings) signed a contract with Yangzhou Heavy Industry on August 29, 2024 to build twelve 14,000TEU methanol dual-fuel powered container ships, with a total value of 2.154 billion US dollars (approximately 16.8 billion Hong Kong dollars). This transaction constitutes a disclosed transaction and related party transaction under the Hong Kong Listing Rules, as the applicable percentage exceeds 5%. COSCO Shipping Holdings and its associates hold approximately 43.92% of the company's issued share capital, and Yangzhou Heavy Industry is an indirect wholly-owned subsidiary of COSCO Shipping Holdings, so the transaction is also a related party transaction. The company has established an independent board of directors and appointed Jarden Capital as an independent financial advisor to ensure the fairness...Show More