Yang Ming Expects 2nd Stage of Recapitalization by June

Image Courtesy: Yang Ming

Taiwanese shipping company Yang Ming Marine Transport Corporation (Yang Ming) expects to complete the second stage of its recapitalization by June 2017.

At that time, Yang Ming will be announcing the identities of the investors who participated in this round of issuance, as well as the details of this offering.

The announcement was made as the shipping firm informed that its shares will resume trading on the Taiwan Stock Exchange on May 4, 2017 in accordance with the company’s capital reduction plan.

Yang Ming said that it is expected that the shares will trade at a value exceeding twice the value before the voluntary suspension of trading on April 20, undertaken in light of Yang Ming’s recapitalization plan which was announced in early 2017.

“Our recapitalization plan will initially allow Yang Ming to reduce its equity capital, after which infusion of new capital is then obtained from various private and public investors,” the company earlier said. The recapitalization plan is said to be one of the several components of Yang Ming’s comprehensive plan aimed at improving the company’s financial structure.

In 2016, Yang Ming posted a full-year net loss of USD 493 million, significantly widened when compared to a loss of USD 258 million seen in 2015.

Due to recent improvements in the shipping sector, along with increased cargo volumes, Yang Ming said that it has cut its business loss for the fourth quarter of 2016 to USD 62 million, and that it “remains optimistic for continued improvements into the first quarter of 2017.”

Share this article

Follow World Maritime News

In Depth>

Events>

<< Aug 2017 >>
MTWTFSS
31 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

Shipping2030 Asia

This year Shipping2030 Asia will take place with Global Liner Shipping conference, offering attendees unique access to networking with the container shipping industry…

read more >

Indonesia Marine & Offshore Expo (IMOX) 2017

Indonesia Marine & Offshore Expo (IMOX) 2017, Batamis an international maritime and offshore industrial event that brings an international…

read more >

Salvage & Wreck Asia

Could your business be affected by shipwreck? Are you a salvage professional or a wreck removal expert? …

read more >

DSM17

Donsö Shipping Meet 2017 is an all inclusive exhibition. Meals, electricity, meeting schedule and banquette dinner is included…

read more >