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Anek lines targets $127m share offering
Crete based ferry operator Anek Lines has notified the Athens Stock Exchange that it plans to raise E100m ($127m) in a share capital increase.
Management will seek the support of shareholders for the move at a stockholders' meeting to be held "within the next two months", Anek chief executive Ioannis Vardinoyiannis told Lloyd's List.
The company, which currently owns and operates a fleet of 10 ro-ro passenger ferries in the Aegean and the Adriatic, has not raised equity on the stock market for more than five years, partly due to a long depressed spell endured by the Greek bourse.
Mr Vardonoyiannis said that if the plan is approved the new capital will be for "growth" in the shipping field, but he said he would not offer further details of plans until next week at the earliest.
The funds "will not just be for cash flow or general purposes", however, he said.
Anek has just reported a 17.6% increase in revenues to EUR 102.8m during the first half of 2006.
But it managed to reduce group losses only slightly - to EUR 6.7m compared with EUR 6.9m in the first half of 2005.
Management will seek the support of shareholders for the move at a stockholders' meeting to be held "within the next two months", Anek chief executive Ioannis Vardinoyiannis told Lloyd's List.
The company, which currently owns and operates a fleet of 10 ro-ro passenger ferries in the Aegean and the Adriatic, has not raised equity on the stock market for more than five years, partly due to a long depressed spell endured by the Greek bourse.
Mr Vardonoyiannis said that if the plan is approved the new capital will be for "growth" in the shipping field, but he said he would not offer further details of plans until next week at the earliest.
The funds "will not just be for cash flow or general purposes", however, he said.
Anek has just reported a 17.6% increase in revenues to EUR 102.8m during the first half of 2006.
But it managed to reduce group losses only slightly - to EUR 6.7m compared with EUR 6.9m in the first half of 2005.
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