OIR BITES: COSCO Corp's stock suspended with parent merger talks‏

COSCO Corp (Singapore) has requested for a suspension in the trading of its stock, as it has been informed by its parent, China Ocean Shipping (Group) Company (COSCO Group), that the latter is in the process of planning a significant transaction which may have an impact on COSCO Corp’s securities, and which may or may not eventuate.

According to Caixin online which quoted an executive from COSCO Group, China’s government has urged COSCO Group and China Shipping Group to draft a preliminary merger plan within three months starting from Aug.

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Prior to this, we had a SELL rating with S$0.39 fair value estimate on COSCO Corp (Singapore).

Source : OCBC Investment Research

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