On 16 August 2024, COSCO SHIPPING International (Singapore) Co., Ltd., a subsidiary of COSCO Shipping Group  and  an SGX  Mainboard  listed  company, announced that  it  has  appointed  China         Construction Bank Corporation Singapore Branch (“CCBSB”) as the Manager for its proposed rights issue, to raise close to S$280 million (approximately RMB1.512 billion).

This transaction represents the first time that  CCBSB and  COSCO  Shipping Group  have  worked    together in the Singapore capital market. It is also the largest equity financing transaction announced in the Singapore equity market in 2024.

CCBSB currently  holds a  Qualifying  Full  Bank license and leverages  on  its  investment  banking    credentials to assist Chinese enterprises in  their overseas  strategies, in  particular, providing  options  for   clients to optimize financing costs and structure via raising funds from the local capital market, deepening   relationship with its clients, a at the same time, adding more quality assets and vibrancy to  the Singapore   capital market.

Important Disclaimer: This advertisement has not been reviewed by the Monetary Authority of Singapore. This is not a product offer. The prospectus or profile statement will be made available when the offer (if any) is made and any person wishing to obtain more information should make an application in the manner    set out in the prospectus or profile statement.”