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Marco Polo Marine Ltd raised about $21 million through a private share placement to fund capital expenditure on specialized vessels for offshore wind projects. The Singapore-listed company issued 144.87 million new shares at $0.145 each.

The net proceeds will support its project pipeline and expansion plans. The placement attracted institutional investors including Areca Capital, Asdew Acquisitions, and Lion Global Investors Ltd. CEO Sean Lee stated the funds will aid the company's growth strategy.