Bulk shipper Wisdom Marine Group (慧洋海運集團) is scheduled to issue US$99.31 million in convertible bonds and depositary receipts on the London Stock Exchange on Tuesday, making it the first company in the Greater China region to list in London.
The new issues include US$60 million in the euro-convertible bonds (ECBs) and US$39.31 million in the Global Depositary Receipts (GDRs). The firm said the issuance will be utilized for fleet expansion and debt repayments.
It reported pre-tax net income of NT$1 billion (US$33.76 million), or NT$2.42 per share, in the first nine months of the year.
The company said it is expected to receive 33 new vessels from the second quarter next year through the second quarter of 2017, and hopes that using more energy-efficient ships will enhance its competitiveness.
It is set to take delivery of 11 new vessels next year, with 10 already signed to medium to long-term contracts with an average gross margin of 45 percent.
In related news, Dimerco Express Group (中菲行國際物流), which provides logistics and freight-forwarding services, said net profit in the third quarter nearly tripled from the same period last year.
Net income stood at NT$54 million, or NT$0.43 per share, in the July-to-September period, up from NT$18 million, or NT$0.15 per share, recorded a year earlier even though consolidated sales decreased 9 percent year-on-year, it said.
Net profit was NT$103 million, or NT$0.8 per share, during the first nine months, compared with NT$106 million, or NT$0.83 per share, a year ago, it said.