China COSCO Shipping Energy Transportation: It plans to raise 798 million yuan to replace 172 million yuan of previously invested self-raised funds.

China COSCO Shipping Energy announced that it will issue 694 million A shares to specific entities in 2025 at a price of 11.52 yuan per share, raising a total of 7.999 billion yuan, with a net amount of 7.979 billion yuan already received on October 10th. The funds will be used for the construction of 6 VLCCs, 2 LNG carriers, and 3 Aframax crude oil tankers, among other projects. As of October 15th, the company has already invested 170 million yuan from its own funds in the investment projects and has paid issuance expenses totaling 35.8027 million yuan. On December 12th, the board of directors agreed to use the raised funds to replace the 170 million yuan already invested in the investment projects and the 27.4143 million yuan paid issuance expenses, totaling 172 million yuan. The sponsor, CITIC Securities, believes that this replacement is in compliance with regulations and has no objections to the matter.