China Merchant Energy Shipping takes $500m in shares offer
Company’s state-owned parent China Merchants Group and domestic state giant Dalian Shipbuilding Industry were the two leading subscribers. JP Morgan Securities is among six other investment funds that have acquired new shares
Proceeds will be mainly used to finance its part of its existing orderbook of four very large crude carriers, two very large ore carriers, two ro-ro carriers and scrubbers for 10 VLCCs
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