Bulker owner Zhongchang Marine is selling 99.31m shares, equivalent to 36.33% of the company, on the Shanghai bourse this week to raise urgent funds. The company, which owns nine ships, is on course to post its second consecutive year of losses. The restricted share sale could help Zhongchang Marine net close to $100m.
Source: Sino Ship News
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Zhongchang Marine share sale
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