Marco Polo Marine plans to deploy the proceeds to fund its business expansion, especially in the offshore wind energy space.
Marco Polo Marine has raised gross proceeds of $21 million from a placement of nearly 144.9 million new shares at 14.5 cents each.
The placement, managed by Maybank Securities, drew institutional investors Areca Capital, Asdew Acquisitions, Astral Value Fund VCC, Evolve Capital Management, Ginko-AGT Global Growth Fund, ICH Synergrowth Fund, Lion Global Investors and Value Partners Hong Kong. Certain unnamed individuals and corporates took part as well.
