Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.
HomeMaritime NewsRegionsEuropeFrontline seeks to raise $100m from share issue to fund vessel buys

Frontline seeks to raise $100m from share issue to fund vessel buys

Frontline seeks to raise $100m from share issue to fund vessel buys
John Fredriksen’s Frontline is looking to raise $100m from a share sale to fund vessel acquisitions.

The planned offering of 13.4m new shares at $7.45 per share is targeted at Norwegian and international institutional investors raising gross proceeds of $100m. The minimum application is set a US dollar equivalent of EUR100,000.

“The net proceeds from the offering will be used to opportunistically fund growth opportunities through vessel acquisitions and for general corporate purposes,” Frontline said.

The company has hired Arctic Securities to manage the offering.

TAGS: Tankers Finance & Insurance Regions
Related
Wartsila-methanol-engine.png
Wärtsilä bags China's largest methanol newbuild engine order
Apr 25, 2024
GSBN container
MSC works with GSBN to boost lithium battery shipments safety
Apr 25, 2024
Stolt Tankers newbuildings artist impression[90].jpg
SFL buys chemical tanker duo for charter to Stolt Tankers
Apr 25, 2024
Stacked containers in port of Los Angeles
Mixed signals on container freight rates as Red Sea alarm subsides
Apr 24, 2024