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Wisdom Marine aims to raise $12.7m for fleet expansion

Wisdom Marine aims to raise $12.7m for fleet expansion
Taiwan’s Wisdom Marine has proposed an issuance of new shares to raise TWD400m ($12.7m) for use in expanding its fleet and buying new ships.

The Taipei-listed dry bulk shipowner plans to issue 40m new common shares priced at TWD10 each.

Among the 40m new shares, 32m will be available for purchase to existing shareholders, 4m for purchase by employees and 4m will be made for public.

Wisdom Marine operates a fleet of 113 bulkers, mainly handysizes, and has 20 newbuildings scheduled for deliveries up until 2019, according to its website.