Viking Supply Ships secures new capital to cover expected negative cash flow

Offshore carrier Viking Supply Ships secures fresh capital from the issuance of new shares. The funds are needed to repay loans and interests and cover negative cash flow from operations the rest of the year.

Photo: Viking Supply Ships

Swedish carrier Viking Supply Ships has received a capital boost from shareholders after finding itself in a strained market where a lack of investments in oil and gas serves to keep activities down.

An new issue of A and B shares in the Swedish offshore operator has been over-subscribed, and all in all, the company has secured new capital of SEK 101 million (USD 11.60 million), the company writes in a press release.

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