Firms in Fed’s Beige Book Fret Over Any Lengthy Baltimore Port Closure
(Bloomberg) — The closure of one of the East Coast’s busiest ports after the collapse of Baltimore’s Francis Scott Key Bridge has so far not led to broad price increases,...
China’s largest privately-held shipbuilder has been seen by many as a symbol of the decline of the shipbuilding industry over the past few years, one that has hit Rongsheng particularly hard.
The bonds are to be issued at an initial conversion price of HK$1.00 per share which represents a premium of approximately 21.95% over the last closing price of HK$0.82 per share as quoted today on the Hong Kong Stock Exchange.
Rongsheng estimates net proceeds from the issuance of these bonds to be approximately HK$1,379,000,000.
Earlier this month, Rongsheng appealed to the Chinese government and their biggest shareholders for financial help after laying off a huge swath of its workforce, delaying payments to suppliers, and warning of a net loss for the first half of 2013.
Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.
Join the 105,962 members that receive our newsletter.
Have a news tip? Let us know.
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
Sign UpMaritime and offshore news trusted by our 105,962 members delivered daily straight to your inbox.
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up