cheung-kong-trims-stakes-in-shipping-companies

Cheung Kong trims stakes in shipping companies

Cheung Kong and Hutchison raise a combined $479 million from the sale of shares in China Cosco and CSCL.
The Cheung Kong group was in the market last night with two separate block trades as it sought to cash in part of its holdings in Hong Kong-listed shipping companies China Cosco Holdings and China Shipping Container Lines CSCL.

While somewhat odd that Cheung Kong decided to do both trades on the same night, as this could have resulting in the cannibalising of demand, both deals were successful and the group walked away with total proceeds of $479 million.

Both blocks were priced at the bottom of their respective ranges, but since most investors have routinely been putting orders in at the low end over the past couple of weeks as the market has...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222