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Seaspan drops share and bond issue plansSeaspan drops share and bond issue plans
Seaspan Corp has dropped plans for a public share issue and $125m convertible bond issue.
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Kalyakan - stock.adobe.com
The New York-listed boxship owner announced plans earlier this week to issue 53m new shares and $125m worth convertible bonds due in 2018 for purposes potentially to fund its newbuilding plans.
In a short statement on Thursday Seaspan said it would not be proceeding with the offerings “as it would not be in the best interests of our shareholders”.
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