COSCO, China Shipping Admit Possible ‘Asset Restructuring’

shutterstock_231243262SHANGHAI, Sept 16 (Reuters) – China Ocean Shipping (Group) Company (COSCO) and China Shipping Group, two of the country’s largest shipping firms, said shares in their listed companies would remain suspended pending a complex matter under research that “may involve asset restructuring”.

The listed units of the two state-owned companies, including COSCO’s flagship China Cosco and China Shipping’s China Shipping Development , halted trading in their shares from Aug. 10, adding at the time that they were “planning major issues”.

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