NYK follow-on to test bid for shipping sector

12 Nov 2009

Nippon Yusen Kabushiki Kaisha, Japan’s biggest shipping line, is to raise as much as ¥144bn ($1.6bn) through a follow-on share offering in what will be the world’s biggest share sale this year by a shipping company.

Nippon Yusen will offer 400m shares, with an option to increase the deal by a further 15% depending on demand for the stock. Around 45% of the shares are targeted at international investors, providing a stern test of global appetite for the struggling shipping sector. "If you believe ...

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