Shanghai-based container shipping company Zhonggu Shipping has announced a plan to raise RMB600m ($87m) through issuing 30m new shares.
Zhonggu Shipping will use the proceeds to fund the construction of ten 2,500 teu containerships and the acquisition of 65,000 containers.
In May, Zhongu Shipping orderd four 2,500 teu containerships with options for an additional two at Shanghai Shipyard. In June, the company placed an order for four 2,500 teu containerships at Jinling Shipyard.
Delivery of the vessels will start from March 2018.