Hutchison, Temasek to buy strategic shares in COSCO

Hutchison, Temasek to buy strategic shares in COSCO    Li Ka-shing, the Hong Kong billionaire who controls Hutchison Port Holdings, and Temasek Holdings, the Singapore government-controlled parent company of PSA and Neptune Orient Lines, will become strategic shareholders of COSCO Holdings when the mainland Chinese shipping company becomes a public company, Reuters reported.
   Li Ka-shing and Temasek will each invest $150 million in COSCO Holdings, according to Reuters, which quoted unnamed sources. The entire initial public offering for COSCO Holdings, which owns COSCO Container Lines and has an interest in the port and container leasing company COSCO Pacific, is expected to raise between $1.2 billion and $1.7 billion.
   Both Li Ka-shing and Temasek are heavy investors in container shipping and ports.
   Last year, Li Ka-shing entities invested $150 million in the IPO of China Shipping Container Lines, while Temasek invested about $1.6 billion to buy the shares of Neptune Orient Lines that it does not already own.