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4-Traders Homepage  >  Equities  >  TAIWAN STOCK EXCHANGE  >  Yang Ming Marine Transport Corp.    2609   TW0002609005

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Yang Ming Marine Transport : Announces the Completion of Rights Offering

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11/27/2017 | 04:32am CET

Yang Ming Marine Transport Corp. (YM) announces today that it has completed the rights offering by issuing 500 million new shares at premium of NTD$12 per share, and accumulated total amount of NTD 6 billion.

The company began to float new shares in the public sector in September 2017. Besides the original shareholders, it was open to ordinary investors, including insurance institutions, and container stevedoring and transport companies etc. Their strong response indicates private enterprises are optimistic over the future market. After this rights offering, the shareholding ratio of Government shareholders of Yang Ming, including *MOTC, *NDFEY and *TIPC, will reach 38.23%. In addition, the private placement of capital increase which has been passed in 2016 shareholders' meeting is also on going steadily and is expected to be completed by the end of this year.

The improvement of business management and warming-up of market have boosted investors' confidence, Yang Ming says.

With the support from shareholders and the improved financial structure after the rights offering, the company vows to continue the strategy of opening new sources of revenue and reducing expenditures. It will work out various plans to make the performance of its fleet more effective and expand its service network throughout the world. At the same time, it will, in keeping with the government's New Southbound policy to find more partners to jointly develop investment projects in the realm of logistics striving toward the goal of making Yang Ming a still better marine transport company of the world.

*MOTC: Ministry of Transportation and Communications
*NDFEY: National Development Fund, Executive Yuan
*TIPC: Taiwan International Ports Corporation

Yang Ming Marine Transport Corporation published this content on 27 November 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 27 November 2017 03:31:08 UTC.

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Financials ( TWD)
Sales 2017 135 B
EBIT 2017 720 M
Net income 2017 -231 M
Debt 2017 75 713 M
Yield 2017 -
P/E ratio 2017 -
P/E ratio 2018
EV / Sales 2017 0,76x
EV / Sales 2018 0,70x
Capitalization 26 482 M
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 5
Average target price 13,6  TWD
Spread / Average Target 20%
EPS Revisions
Managers
NameTitle
Feng Hai Lu Chairman & Chief Executive Officer
Hua Ming Yue President
Dannis Lee Chief Financial Officer
Jung Kuei Wu Director
Wing Kong Leung Director
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