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Jinhui Shipping raises $25m from oversubscribed rights issue

Oslo-listed Jinhui Shipping and Transportation has raised approximately NOK201.71m ($25.07m) from an oversubscribed rights issue that was completed last Friday.

Lee Hong Liang, Asia Correspondent

July 24, 2017

1 Min Read
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The dry bulk shipowner, majority owned by Hong Kong-listed Jinhui Holdings, issued around 25.21m shares with subscriptions of up to 26.15m shares, representing an oversubscription of around 3.7%.

“Allocation of shares in the rights issue will be resolved on or about 25 July 2017 by the board of directors of the company in accordance with the allocation criteria set out in the prospectus,” Jinhui Holdings stated.

Jinhui Holdings has subscribed to 13.81m shares under a pre-subscription agreement for a total consideration of NOK110.48m. The subscription price for each share was NOK8, representing a 14.8% discount from the final price of NOK9.39 at close of market on 30 June 2017.

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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.

 

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