Tuesday, June 19, 2007

China Cosco Sells $2 Billion of Stock, Plans to Buy More Container Ships

(Bloomberg) -- China Cosco Holdings Co., operator
of Asia's largest container line, sold 15 billion yuan ($1.97
billion) of stock in Shanghai to buy new ships.

Investors bought 1.78 billion shares at 8.48 yuan each, the
top end of the price range, on June 18, the company said in a
Shanghai stock exchange statement today. The sale was the fourth
biggest in China this year, according to Bloomberg data.


Read more at Bloomberg Emerging Markets News

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