Wisdom Marine to raise $71m for retrofits and fleet expansion

Taiwanese bulker owner will return to Japanese yards for a 38,000-dwt vessel and a 63,300-dwt ship.

3 April 2019 18:24 GMT Updated 3 April 2019 18:24 GMT

Wisdom Marine has unveiled plans to raise almost TWD 2.19bn ($71m) from the sale of bonds and new shares for fleet expansion, installation of ballast water treatment systems and debt repayments.

The Taiwan-listed bulker owner proposes to sell up to 80 million new shares for no more than TWD 800m, which will be used for fleet expansion, according to an exchange filing.