China Trade Information

An unidentified institutional investor of COSCO Pacific Ltd, Asia’s third-largest container-terminal operator, was putting HK$748 million (US$96 million) worth of shares up for sale, according to a source close to the situation.

The holder was selling 56.69 million shares at a price range of HK$13.08 to HK$13.1 apiece, the source said. That was at a 5.2% to 6% discount of the Hong Kong-listed company’s latest closing price, which ended 1.02% higher to HK$13.92 on Tuesday.

Citigroup was assigned to arrange the share sale.

COSCO Pacific posted net profit of US$427.8 million last year, up 47% from a year earlier.

Tags: Citigroup, Cosco

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