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Mercator Lines plans to raise $150 million

30 Jun 2011 Evaluate

Mercator Lines is planning to raise $150 million via IPO sale of coal mining unit and with this regards the company is planning to appoint investment bankers for the IPO.

Recently, Mercator Lines Singapore subsidiary had successfully commissioned the Floating Production Unit (FPU) project with the production of oil from the EBOK field. The company had signed a 7 year contract to charter out FPU to Afren PLC, UK at their EBOK field in Nigeria. The commissioning of the contract will substantially add to the consolidated revenues of the group over a period of 7 years.

Mercator Lines is India’s second largest private sector shipping company. It is engaged in providing sea-borne transportation services. The company has diversified its business into coal mining.  

Mercator Share Price

0.84 0.00 (0.00%)
10-Mar-2023 18:02 View Price Chart
Peers
Company Name CMP
Shipping Corpn. 305.85
GE Shipping 1425.30
Dredging Corp 976.65
Seamec 1556.00
Shreeji Ship.Global 377.10
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