The boxship owner says it offered 306.5 million additional shares, or 15% of its charter capital, to existing shareholders and other investors.

About $171m came from selling 256.5 million shares at RUR 16.83 ($0.66) each to existing investors, with the rest being paid by new shareholders at a higher RUR 17.85.

This is Fesco’s second additional share issue in the past six months after it raked in $213m in March at $0.52 per share to cover its latest acquisitions.

It says the ownership structure of the company has not changed following the latest deal.

The Industrial Investors group held 64% in Fesco before the offering. Swedish investment fund East Capital held 9.8% and US investment fund Genesis more than 3%.

TradeWinds