COSCO SHIPPING International (Hong Kong) Co., Ltd. (SEHK:517) commences share repurchases on June 1, 2023, under the program mandated by the shareholders in the Annual General Meeting held on May 31, 2023. As per the mandate, the company is authorized to repurchase 147,678,543 shares, representing up to 10% of the issued share capital. The repurchases will lead to an enhancement of the net asset value per share and/or earnings per share for the company.

The repurchases will be made out of the funds legally available for such purpose in accordance with its memorandum of association and Bye-laws and the applicable laws and regulations of Bermuda. The authority shall expire at the earliest of the next Annual General Meeting, the date on which the next Annual General Meeting is required to be held or the date on which the authority is varied or revoked in a General Meeting. As of May 31, 2023, the company had 1,476,785,429 shares in issue.