CSAV plans two-step capital raise

CSAV plans two-step capital raise

Equity

Chilean shipping firm Compania Sud Americana de Vapores (CSAV) said it plans a dual-step process to raise capital ahead of its acquisition of 30% stake in Hapag-Lloyd. It is hoping shareholders will approve a $200m capital increase at a March meeting, to pay for seven new containerships, it said in a regulatory filing on Thursday. Under the proposal, those shares will be priced at least at the average price of the firm’s shares in the 60 days ahead of the March meeting. CSAV’s controller, Quinen

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