MPC Container Ships Collects USD 50 Mn to Buy More Vessels

Norwegian vessel owner MPC Container Ships has raised some USD 50 million through a private placement to invest in boxship additions.

The company said it completed the private placement of 7.25 million new shares, announced on June 12, 2018, at a fixed subscription price of NOK 54 (USD 6.7) per share.

The net proceeds from the private placement will be used to pursue future investments in container vessels and general corporate purposes.

Following registration of the share capital increase with the Norwegian Register of Business Enterprises, the company will have a share capital of NOK 842,530,000 divided into 84,253,000 shares, each with a nominal value of NOK 10.

Delivery of 6,286,000 of the new shares will take place on or about June 18, 2018, subject to full and timely payment being received for such shares and the registration of the share capital increase relating to the issuance of such shares with the Norwegian Register of Business Enterprises.

Settlement of the remaining 964,000 of the new shares will take place on or about June 28, 2018.