General – Finance
Marco Polo Marine raised about $21m through a private share placement to fund capital expenditure and specialised vessels supporting offshore wind projects.
The Singapore-listed integrated marine logistics company issued 144.87 million new ordinary shares at $0.145 per share.
According to Marco Polo Marine, the net proceeds will support its project pipeline and expansion plans, including investments in specialised vessels serving offshore wind developments.
Chief executive Sean Lee said the funds will support the company’s project pipeline and expansion plans.
“We are delighted with the strong support for our private placement, which reflects a clear endorsement of our vision and strategy. This successful fund-raising exercise provides us with the capital to pursue our pipeline of value-accretive projects.”
