Maersk share sale raises US$1.58 billion for war chest

AP Moller-Maersk, owner of Maersk Line, the world's biggest container shipping line, said it had sold 5.7 per cent of it share capital, or 250,340 B shares through private placement to institutional investors for DKK8.26 billion (US$1.58 billion) at DKK33,000 a share.

The company has said the money would be used to provide "financial flexibility" and " to pursue strategic opportunities" to acquire distressed assets should they appear, reported American Shipper.
 

(Source: www.schednet.com)