US-listed tanker owner Top Ships pledged on Wednesday that it would not carry out equity offerings in order to raise money for expansion this year.
The company announced a “moratorium on new equity offerings” until the end of 2023, which is meant to “significantly enhance the trading stability of its common shares”.
Under this moratorium, Top Ships — a frequent user of equity offerings to raise money for growth —said it “will not conduct any new equity offerings, public or private”.
