Hapag-Lloyd to Repay Debt with $414 Million Capital Increase

Hapag-Lloyd has raised $414 million through a capital increase agreed after its merger with United Arab Shipping Co., with most of its shareholders exercising their rights to buy up 11.7 million new shares.

October 18, 2017

Hapag Lloyd Container 22R1 HLXU 270597 0 Pictures taken in Japan 59bfe3382495f

Hapag-Lloyd has raised $414 million through a capital increase agreed after its merger with United Arab Shipping Co. (UASC), with most of its shareholders exercising their rights to buy up 11.7 million new shares, the Journal of Commerce reported Wednesday.

In a statement to JOC, Rolf Habben Jansen, CEO of Hapag-Llloyd said the high level of demand for their shares is “an encouragement to continue to rigorously pursue our strategic and operative objectives.”

Hapag-Lloyd will use the proceeds primarily for the repayment of debts and to strengthen its capital structure, the JOC reports.

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