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Yang Ming's recapitalisation plan continues with new share offering

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17.07.2017 14:59

Yang Ming's recapitalisation plan continues with new share offering

Taiwanese shipping firm Yang Ming has announced a plan to issue 500m new shares to raise NTD5bn ($164m) as part of its recapitalisation plan.

The existing shareholders of the company will acquire 80% of the new shares and the remaining 20% will be offered to the public

Yang Ming said the proceeds from the offering will be used to repay bank loans and optimise the company's financial structure.

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