CHINA Fishery

CHINA Fishery announced a private placement of 113.5m new shares (@S$1.85) and 26.7m warrants, which carries the right to subscribe to one new share at an Ex price of S$2.10. Factoring in the investment, including exercise of all the warrants, Carlyle Group will hold about 13.62% of the enlarged capital of China Fishery.According to mgtm, the strategic investment of US$190m by the Carlyle Group will help position the Co for further acquisition opportunities and strengthen the shareholder base

We understand the Co is currently looking at possibilities for expanding into Chile, Mauritania & Morocco following its recent acquisitions of 2 Peruvian fishing companies last mth. Notably, mgtm also highlights that the investment has already helped China Fishery to achieve part of its aims to raise capital via its original plans for a dual listing on Norway's Oslo stock exchange. This suggests that the Co may indefinitely postpone or cancel its dual listing plans on the Oslo bourse entirely.