Mutineer’s blocking bid fails to delay MMA’s equity raise

A blocking move by the shareholder mutineer at MMA Offshore has so far not delayed the Australian shipowner’s planned $97m equity raise this week.

On 16 November, MMA announced it would seek $74.6m from a one-for-one entitlement offer and $22.4m in an institutional placement to existing and new investors.

In this first stage, the placement and entitlement had raised gross proceeds of $38.1m,