UK shipping investment fund Tufton Oceanic Assets has kick-started its next expansion phase by launching a share tap issue worth up to $25m.
The London-listed company said it will sell up to 25.53m new shares at $0.98 each, a 1.7% premium to the net asset value at 31 December.
Hudnall Capital and N+1 Singer Capital Markets will be joint bookrunners for the offering, which closes on 24 March.
