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Wisdom Marine seeks $10.8m from share issue to fund new ships

Wisdom Marine seeks $10.8m from share issue to fund new ships
Taiwan’s dry bulk carrier shipowner Wisdom Marine is looking to raise up to TWD320m ($10.8m) via the issuance of new shares for the purpose of financing new ships.

Taipei-listed Wisdom Marine said it plans to issue no more than 32m new shares at a price of TWD10 each.

In an announcement to the Taiwan Stock Exchange, Wisdom Marine said 10% of the new shares will be reserved for its employees, 10% will be made available to the public, and the remaining 80% will be offered to existing shareholders.

“The funds raised from this exercise will go toward the financing of building new ships,” Wisdom Marine stated, without revealing further details of the shipbuilding plans.

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