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COSCO sees sustained surge in investor interest

Michelle Teo
Michelle Teo11/20/2017 08:00 AM GMT+08  • 6 min read
COSCO sees sustained surge in investor interest
(Nov 20): Shares in COSCO Shipping International (Singapore) have continued to rise since it announced a $488 million buyout of logistics firm Cogent Holdings earlier this month. On Nov 16, the counter hit another 52-week high in trading and was one of th
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(Nov 20): Shares in COSCO Shipping International (Singapore) have continued to rise since it announced a $488 million buyout of logistics firm Cogent Holdings earlier this month. On Nov 16, the counter hit another 52-week high in trading and was one of the most heavily traded counters on the exchange. The stock is now trading at more than twice its value at the beginning of the year, and at its highest level in more than two years.

COSCO Shipping provides ship repair, ship building and marine engineering services in China and Singapore. In May, it announced a deal to divest stakes in three shipyard units to its parent, COSCO Shipping Heavy Industry, for RMB1.47 billion ($300.8 million). In August, it announced a non-binding memorandum of understanding to acquire 40% of Ocean Global Shipping, which has businesses in logistics, container canvassing and management, ship chartering and bunkering.

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