Cosco Corporation (Singapore) says trading of its shares will remain suspended for the time being.
That is because parent China Ocean Shipping (Group) is still involved in intensified planning for the proposed significant transaction which initiated the trading halt on Aug 11, says Cosco.
As the proposed transaction is “relatively complicated and may involve asset reorganisation”, time is needed for further study and analysis, the shipbuilder adds.
“In order to ensure fair disclosure of information, safeguard the interest of investors and prevent unusual fluctuation of share prices of the Company, the trading in the shares of the Company will continue to be suspended,” says Cosco.
The group says it will continue to monitor the situation and continue to update shareholders at appropriate times.
Cosco last traded at 37.5 cents before the trading halt.
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That is because parent China Ocean Shipping (Group) is still involved in intensified planning for the proposed significant transaction which initiated the trading halt on Aug 11, says Cosco.
As the proposed transaction is “relatively complicated and may involve asset reorganisation”, time is needed for further study and analysis, the shipbuilder adds.
“In order to ensure fair disclosure of information, safeguard the interest of investors and prevent unusual fluctuation of share prices of the Company, the trading in the shares of the Company will continue to be suspended,” says Cosco.
The group says it will continue to monitor the situation and continue to update shareholders at appropriate times.
Cosco last traded at 37.5 cents before the trading halt.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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