The game started.
AP Moller Maersk, the world’s largest container shipping firm, surprised the market on Wednesday with the announcement of a DKK9.2bn ($1.77bn) share placing.
The move was unexpected since the Danish firm had pretty much ruled-out the prospect of any fund-raising on August 21, the day it also announced a loss - its first ever - of $540m.
As Lloyds List reported at the time, chief executive Nils Andersen told investors the shortfall had come despite revenues of $22.7bn, on a major loss to the container division of $961m. While the results were not pretty, investors warmed to the promise of aggressive restructuring measures to come: shares moved 7 per cent higher after Andersen said the group would trim between$1bn-$1.5bn from annual costs.
Sphere: Related Content
The move was unexpected since the Danish firm had pretty much ruled-out the prospect of any fund-raising on August 21, the day it also announced a loss - its first ever - of $540m.
As Lloyds List reported at the time, chief executive Nils Andersen told investors the shortfall had come despite revenues of $22.7bn, on a major loss to the container division of $961m. While the results were not pretty, investors warmed to the promise of aggressive restructuring measures to come: shares moved 7 per cent higher after Andersen said the group would trim between$1bn-$1.5bn from annual costs.
No comments:
Post a Comment