Ever Harvest Group to raise $17.1m for ship acquisitions
Hong Kong-listed Ever Harvest Group has announced that it plans to issue 350m new shares to raise up to HK$133m ($17.1m)
The group said 45% of the raised funds will used for acquisition of three to four vessels in the next two years, while another 40% of the fund will be used to develop container yard and logistics centres.
“We expect this would support our business growth enhance our flexibility in resources allocation, enable us to have a more secured and stable shipping capacity, and we may also be able to reduce vessel chartering thereby saving our cost of vessel,” the company said in a release.
Ever Harvest Group mainly provides feeder shipping service between Hong Kong and Southern China. It currently has 16 vessels in its fleet.