Cosco Shipping Development Co (CSDC) has scaled back a private share plan announced earlier this month.
The Chinese conglomerate is now looking to raise up to CNY 8.6bn ($1.25bn) instead of initial plans to raise as much as CNY 12bn.
CSDC did not specify the reason for this amendment in its filing to the Shanghai Stock Exchange.
CSDC is the former China Shipping Container Lines (CSCL) and will transform into a financial services platform following the merger of Cosco Group with China Shipping Group (CSG).
