Wisdom Marine raises $10.6m to fund newbuildings

Wisdom Marine raises $10.6m to fund newbuildings

Taiwanese owner Wisdom Marine has announced a plan to raise NTD320m ($10.58m) through issuing 32m new shares. It will use the proceeds from the share issue to fund the construction of newbuildings.

Existing shareholders will acquire 80% of the new shares, while the remaining 20% will be offered to the company’s employees and public market.

Wisdom Marine currently has a total of 18 newbuildings under construction at Chinese and Japanese yards.

At the end of June, the company acquired a 58,000dwt bulk carrier from Japan’s Mitsubishi UFJ Lease & Finance.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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