Courage Marine to raise HK$97m through share placement

COURAGE Marine Group, a Hong Kong-based dry bulk shipping services operator, on Friday said that it would raise some HK$97 million (S$17.9 million) through a share placement.

The placement, representing about 20 per cent of the company's existing share capital, involves up to 25.4 million new shares priced at HK$3.82 apiece, and sold to as many as six investors.

The placement price represents a discount of about 17.85 per cent to the closing price on the Hong Kong Stock Exchange on Friday. Courage Marine has a secondary listing on the Singapore Exchange.