Yangzijiang Financial ink share sale and purchase deals to boost maritime expansion

Over 190 million ordinary shares were sold at $0.72 apiece.

Yangzijiang Financial has entered into two separate share sale and purchase agreements, divesting its treasury shareholding of 193,527,600 ordinary shares at $0.72 per share.

In a bourse filing, the company said the deals were signed with Merlion Quay Capital Ltd and Operie Capital Ltd and amounted to total gross proceeds of $139.3m.

The treasury shares were originally repurchased at around $0.34 per share under Yangzijiang Financial’s $200m share buy-back programme.

Following the sale, Yangzijiang Financial said it realised more than double the historical acquisition cost, unlocking over $70m in value.

The sale is expected to be completed by 26 June 2025.

“Once completed, the Proposed Sale will strengthen our capital base to double down investments into the promising maritime industry,” said Ren Yuanlin, executive chairman and CEO of Yangzijiang Financial.

Net proceeds from the sale will be injected into Yangzijiang Financial’s core maritime investments, in line with its strategy to capitalise on industry tailwinds driven by increasing decarbonisation. In the interim, proceeds may be temporarily allocated to bank deposits or cash management activities for capital appreciation.

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