Norwegian shipowner MPC Container Ships ASA has completed its private placement, raising gross proceeds of around USD 75 million.
The net proceeds would be used to pursue future investments in container vessels and general corporate purposes. MPC Container Ships said that it is in the final stages of acquiring a number of feeder container ships.
MPC Container Ships completed the private placement of 11.75 million new shares at a fixed subscription price of NOK 50 per share. DNB Markets, a part of DNB Bank ASA, and Fearnley Securities AS have acted as joint managers and bookrunners.
Following registration of the share capital increase pertaining the private placement with the Norwegian Register of Business Enterprises, the company will have a share capital of NOK 770,030,000 divided into 77,003,000 shares, each with a nominal value of NOK 10.
The new shares to be issued under the private placement will initially be issued under a separate ISIN number and will be listed on Merkur Market as soon as practically possible after registration of the share capital increase in the Norwegian Register of Business Enterprises, expected on or about February 15, 2018.
Upon approval of a listing prospectus by the Financial Supervisory Authority of Norway, the new shares will be admitted to trading on Oslo Axess and will convert to the regular ISIN number of the company’s existing shares.