Fujian Highton Plans $295m Share Placement for Fleet Expansion
Chinese owner aims to raise capital to fund the acquisition of 16 dry bulk and multipurpose heavylift vessels.
Shanghai-listed shipowner Fujian Highton Development has revealed plans to raise up to RMB 2 billion ($295 million) through an equity offering aimed at financing a significant fleet expansion.
The fresh capital will be secured via a private placement of up to 412.5 million new A shares. This proposed issuance represents approximately 30 percent of the company's currently existing share capital.
According to the expansion scheme, the entirety of the net proceeds will be deployed toward funding the purchase of 16 vessels.
The acquisition programme spans both dry bulk tonnage and multipurpose heavylift ships, providing a substantial capacity boost across the Chinese carrier's core operating sectors.
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