Splash 2476 Sep 2026AI generated
Fujian Highton Development plans a private placement of up to 412.5m new A shares to raise RMB2bn ($295m) for a 16-ship fleet acquisition programme spanning dry bulk and multipurpose heavylift tonnage.
- Full investment programme budgeted at RMB2.25bn ($332.2m), balance self-funded
- Acquisitions over a 36-month period; no vessels, sellers or yards yet identified
- Chairman Zeng Erbin's vehicles Dayunming and Dalan each subscribe at least RMB100m ($14.8m)
- Placement needs shareholder, Shanghai Stock Exchange and CSRC approvals
Context
The funding plan follows Highton's August order for two more 62,000 dwt heavylift newbuildings at Taizhou Kouan, taking that series to nine ships worth up to RMB2.7bn.