24 May 2019

CIMC to issue 286 mln new H-shares to 3 entities, filing says

China International Marine Containers (Group) Co. Ltd. (CIMC) (02039.HK, 000039.CN) said in a regulatory filing Tuesday that it has entered into share subscription agreements with COSCO Container Industries Ltd., Broad Ride Ltd. and Promotor Holdings Ltd. Under the agreements, the three parties will buy a total of 286 million new H-shares of CIMC at HK$13.48 apiece in cash. Gross proceeds from the new share issue will be about HK$3.86 billion (US$497.31 million). The subscription price represents a 5.87 percent discount to CIMC’s closing price on Monday. COSCO Container, Broad Ride and Promotor Holdings will be acquiring 3.79 percent, 4.54 percent and 8.33 percent respectively of the enlarged total issued H-share capital of CIMC.

– Contact HKEJ at [email protected]



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