Container giant in failed attempt at raising new capital

Seaspan misjudged the New York stock market and was forced to cancel an attempt at securing more than USD 250 million. The flop could have major consequences for the company's future growth.

Photo: APM Terminals

Stock listed Seaspan, the world's 3rd largest owner of container ships among so-called non-operating owners (NOO), has cancelled a share sale at the New York Stock Exchange, amove that was expected to raise USD 131.5 million. Seaspan also tried to raise another USD 125 million through a sale of convertible bonds. For an expected total of USD 256.5 million.

The Seaspan share declined 19 percent following the company's statement that a share sale "would not be in the interest of shareholders."

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