HUTCHISON Whampoa is among the third-parties which have taken up a large chunk of Florens Group's new share issue. Florens is issuing about 600 million shares to finance the purchase of parent China Ocean Shipping Co's (Cosco) 50 per cent stake in Container Terminal 8 (East) for $2.6 billion. The acquisition was approved by minority shareholders at a special general meeting yesterday. The Cosco stake was held through subsidiary Cosco (Hong Kong) Group. The new issue, at $4.38 per share, is at a discount from yesterday's closing price of $4.40, down five cents from Thursday. Hutchison Whampoa's Hong Kong International Terminals owns the remaining 50 per cent of the terminal. Florens managing director Luk Chiwing said the deal would widen the company's earnings base and maintain its focus on the container industry.