Yangzijiang Maritime raises $5.2m following trading debut

Its debut share price was at $0.66 apiece.

Yangzijiang Maritime Development Ltd. has raised $5.2m via a private placement as it made its debut on the Singapore Exchange mainboard.

In a bourse filing, the company said its share price debuted at $0.66 per share, a 10% premium above the placement price of $0.60 per share. Its share price reached an intraday high of $0.71 per share, representing an increase of 18.3%.

“By the end of the debut trading, approximately 58 million shares were traded, and the closing of $0.67 per share was 11.7% higher than the placement price,” it said.

The private placement covered 8,638,000 shares at the placement price.

SAC Capital Private Limited and China International Capital Corporation (Singapore) Pte. Limited are the joint placement agents for the private placement.

“With strong maritime experience, a robust global network and a disciplined capital management approach, Yangzijiang Maritime is well-positioned to harness opportunities across evolving maritime cycles and drive sustainable long-term value for our stakeholders,” said Ren Yuanlin, executive chairman and CEO of Yangzijiang Maritime.