Cosco Shipping Co. rights offering approved

Shanghai: A rights offering by Cosco Shipping Co. has been approve by Chinese regulators. The Chinese shipowner said it received approval from the China Securities Regulatory Commission to sell 393m shares through a rights offer, according to an exchange filing by the Shanghai listed company, Bloomberg reported Cosco Shipping owns and operates 89 ships including heavy lift, semi-submersibles, ro-ro, multi-purpose, general cargo ships and pure car carriers.
(Source:www.seatrade-asia.com)