Grindrod Shipping Announces Pricing of Secondary Offering of Ordinary Shares


Grindrod Shipping, a global provider of maritime transportation services predominately in the drybulk sector, announced the pricing of the previously announced underwritten public secondary offering of 1,841,962 ordinary shares by certain existing shareholders of the Company at a public offering price of $13.50 per share, for an aggregate purchase price of $24,866,487.

The Offering is expected to close on September 27, 2021, subject to customary closing conditions. The Selling Shareholders will receive all of the proceeds from the Offering. Grindrod Shipping is not selling any of its ordinary shares in the Offering and will not receive any proceeds from the Offering.

Jefferies is acting as sole book-running manager for the Offering. Noble Capital Markets, Inc. is acting as co-manager for the Offering.