2020 Bulkers Raises USD 70 Million to Finance New Ships

2020_Bulkers

2020 Bulkers will raise USD 70.2 million of gross proceeds from an equity offering.

The company received binding orders for subscription of 7,800,000 shares at the price of USD 9.00 per share, with the support from new and existing investors.

The net proceeds from the offering would be used to fully finance vessels and working capital purposes.

The company has eight Newcastlemax drybulk vessels under construction at New Times Shipyard in China.

 

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