Marco Polo Marine Raises $21M for Offshore Wind Vessel Expansion
Marco Polo Marine Ltd raised approximately $21 million through a private share placement to finance specialized vessels for offshore wind projects. The company issued 144.87 million shares at $0.145 each, with Maybank Securities Pte. Ltd. as the placement agent. The funds will be used to support project expansion plans and the development of its project pipeline.
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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.
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