Singapore: Hoping a successful rights issue will “re-ignite” its growth strategy Rickmers Maritime saw its one-for-one offering 1.5 times oversubscribed.
The Singapore entity raised S$101.7m from the rights issue at S$0.24 a share.
“The successful completion of the rights issue will strengthen our balance sheet, safeguard our low interest margins and allows us to continue our regular distributions to unitholders,” said Thomas Preben Hansen, ceo of Rickmers Maritime. “We have herewith begun the process of positioning the trust to take advantage of opportunities in the market to re-ignite the Rickmers Maritime growth strategy.”
Rickmers Maritime also announced yesterday it has secured an extension on its loan-to-value covenant waivers with lenders until 29 December 2014. [21/05/13]
