Cosco International to Ask Shareholders for Sino-Ocean Land Sale Approval

Cosco International Holdings Ltd. said it is calling a shareholders’ meeting on Sept. 30 to approve a planned sale of its stake in Sino-Ocean Land Holdings Ltd.

Cosco may sell as many as 949.9 million Sino-Ocean shares, or its entire 17 percent stake, in the real estate developer, at HK$5.4 each or more, it said in a statement to the Hong Kong stock exchange today. The company will seek shareholders’ approval to sell the holding at one time or in several batches over the next 12 months.

To contact the reporter on this story: Bei Hu in Hong Kong at bhu5@bloomberg.net

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