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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.

Lee Hong Liang, Asia Correspondent

September 27, 2016

1 Min Read

Kalyakan - stock.adobe.com

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.

About the Author

Lee Hong Liang

Asia Correspondent

Singapore-based Lee Hong Liang provides a significant boost to daily coverage of the Asian shipping markets, as well as bringing with him an in-depth specialist knowledge of the bunkering markets.

Throughout Hong Liang’s 14-year career as a maritime journalist, he has reported ‘live’ news from conferences, conducted one-on-one interviews with top officials, and had the ability to write hard news and featured stories.

See more from Lee Hong Liang

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