Klaveness subsidiary issues private placement shares to expand fleet

A subsidiary of Norwegian shipping group Torvald Klaveness will issue new shares for up to USD 70 million in order to finance the purchase of new combination vessels.

Photo: Klaveness

Klaveness Combination Carriers (KCC) , a subsidiary of Norwegian shipping group Torvald Klaveness, is in the process of expanding its fleet, and the company will finance this by issuing new shares, according to a statement.

Clarksons Platou Securities has been hired to manage the issuing of new shares totaling USD 40-70 million. Current investors, the executive management and former CABU investors will subscribe for USD 25 million of the issued share value.

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