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 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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