Yang Ming’s recapitalisation plan continues with new share offering

Yang Ming’s recapitalisation plan continues with new share offering

Taiwanese shipping firm Yang Ming has announced a plan to issue 500m new shares to raise NTD5bn ($164m) as part of its recapitalisation plan.

The existing shareholders of the company will acquire 80% of the new shares and the remaining 20% will be offered to the public.

Yang Ming said the proceeds from the offering will be used to repay bank loans and optimise the company’s financial structure.

This is the second share offering by Yang Ming this year following the company’s $54m share offering plan announced in February.

In late January, Yang Ming, facing much speculation about its future, released a recapitalisation plan, which included a stock consolidation as well as the injection of fresh capital from investors. The company said it expects “immediate benefits to its balance sheets” from the plan.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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