Belships has raised NOK 140m ($17m) from an overnight private placement to help fund its recent acquisition of two ultramaxes under construction in China.
The Oslo-listed shipowner issued 20m shares at NOK 7 per share in a transaction that saw Arctic Securities and Pareto Securities act as joint lead managers and bookrunners.
The supramax and ultramax specialist said the book was composed of “high quality private and institutional investors”.
