Maersk's share issue generated more than DKK 8bn

Danish shipping giant A.P.Moller-Maersk (A.P.Møller-Mærsk) has sold 250,340 of its B shares through a so-called accelerated bookbuilding process to both new and existing institutional investors, according to Logistics Finland. The shares sold by Maersk account for 5.7% of the company's total share capital. The share issue generated more than DKK 8bn (EUR 1.07bn USD 1.53bn).
The group's MD Nils Smedegaard Andersen said the share issue will make Maersk less dependent on banks and make it more flexible for it to make future investments and acquisitions. Andersen mentions investments in new terminals or participation in an oil cooperation but says that there are no major acquisitions on the agenda. The share issue also makes it possible for Maersk to borrow another DKK 20bn from banks.

(Source: Transport Weekly)