K Line turns to market for newbuilding funds

JAPANESE shipping line Kawasaki Kisen Kaisha (K Line) saw its share price climb 2.3% to close at ¥305 on Monday after it announced plans to raise nearly ¥34.6bn (US$384.5m) in a new share offer mainly to finance its newbuilding program.

K Line plans to sell up to 126.5m shares in a public offering, including 16.5m shares that will be sold if the initial offer is oversubscribed.
This second tranche will be borrowed from an existing shareholder which will get a...

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