Shanghai-listed units of Cosco and China Shipping extend trading halt

Trading of their shares have been halted since 10 August due to the possible merger of Cosco Group and China Shipping Group (CSG).

The Shanghai-listed units of the two state-owned shipping firms said the matter that led to the trading of the shares is still in the planning stage and no deal has been reached, resulting in the need to extend the suspension of trading to avoid volatile price fluctuations.

Several arms of the two shipping giants have halted trading in their shares pending the announcement.