Fujian Highton seeks nearly $300m for 16-ship buying spree

Chinese owner Fujian Highton Development is looking to raise up to RMB2bn ($295m) to bankroll a 16-ship acquisition programme spanning dry bulk and multipurpose heavylift tonnage. The Shanghai-listed company has unveiled a private placement of as many as 412.5m new A shares, equivalent to 30% of its existing share capital, with the proceeds earmarked entirely … Read full article →