OREANDA-NEWS. November 17, 2011. The substantial shareholder of COSCO International, China Ocean Shipping (Group) Company, bought an aggregate of 326,000 ordinary shares of the Company in the open market on 26th October 2011 at an average price of HKD 3.2469 per share through its wholly-owned subsidiary of True Smart International Limited as shown in the Shareholding Disclosures on the website of the Stock Exchange of Hong Kong. After the increase in its shareholding, COSCO holds 908,458,286 ordinary shares of the Company, representing approximately 60.01% of the Company's total issued share capital, reported the press-centre of COSCO International.

Mr.Wang Xiaodong, Managing Director of COSCO International, said, "Our substantial shareholder casts a vote of confidence in the value and prospects of the Company by increasing its stake. Looking forward, COSCO International will further develop various shipping related service businesses in accordance with the established development strategy, whereby broadening the earnings base of the Company and creating higher returns to our shareholders, aiming to become a global leading "one-stop shop" shipping service provider."

As of 30th June 2011, COSCO held 904,412,286 ordinary shares of the Company, representing approximately 59.76% of the Company's total issued share capital, and the net asset value per share and net cash per share of the Company was HKD 4.6 and HKD 3.6 respectively.