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China Shipping, Cosco rely on parent companies bail out sinking stock
CONTROLLING shareholders of China Shipping (CSCL) and Cosco (COSCON) have come to the rescue and moved to prop up the ailing share prices, reports Alphaliner.
China Shipping Group (CSG), the controlling shareholder of CSCL said that it was arranging to increase its shareholding in CSCL. Cosco Group also acquired 462,000 "A" shares of China Cosco the listed holding company on July 10.
The share prices of both have suffered sharp falls in recent weeks as the stock market bubble that built up on Chinese stocks since April collapsed.
China Shipping Group (CSG), the controlling shareholder of CSCL said that it was arranging to increase its shareholding in CSCL. Cosco Group also acquired 462,000 "A" shares of China Cosco the listed holding company on July 10.
The share prices of both have suffered sharp falls in recent weeks as the stock market bubble that built up on Chinese stocks since April collapsed.
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