KDM Shipping Public Ltd. (Cyprus), the holding company of the leading Ukrainian shipping operator, Capital Shipping Company LLC (Kyiv), has closed a deal on the placement of 2 million additionally issued shares and raised PLN 60 million ($18.74 million), which is PLN 30 per share, reads a posting on the Warsaw Stock Exchange.
The global coordinator of the transaction was UniCredit CAIB Poland
S.A., the joint manager was Jaspen Capital, the financial advisor –
Ukrsotsbank, and the legal advisor to the global coordinator – Baker
& McKenzie.
To speed up the deal, the share seller at this stage is KDM
Management Limited majority shareholder Kostiantyn Molodkovets, who
holds 5.1 million shares, or 69.9% of the charter capital.
After that, KDM Shipping Public will issue 2 million shares, which
will be exchanged for PLN 60 million from KDM Management Limited. The
total number of shares will increase to 9.296 million, and the total
share of participants in the private placement will be 21.5%.
According to the report, Kostiantyn Molodkovets and Denys
Molodkovets, who own 749,999 shares, will not buy shares within 18
months of the private placement, and KDM Shipping Public will not issue
new shares within 12 months without the written consent of the global
coordinator.
As reported, KDM Shipping planned to issue 2.7 million additional
shares and perform their private placement among a limited number of
institutional investors. The shareholders approved the increase in the
capital at an extraordinary meeting on May 17.
