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MarketScreener Homepage  >  Equities  >  TAIWAN STOCK EXCHANGE  >  Yang Ming Marine Transport Corp.    2609   TW0002609005

YANG MING MARINE TRANSPORT CORP.

(2609)
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Yang Ming Marine Transport : Announces the Completion of Rights Offering

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11/26/2017 | 10:32pm EDT

Yang Ming Marine Transport Corp. (YM) announces today that it has completed the rights offering by issuing 500 million new shares at premium of NTD$12 per share, and accumulated total amount of NTD 6 billion.

The company began to float new shares in the public sector in September 2017. Besides the original shareholders, it was open to ordinary investors, including insurance institutions, and container stevedoring and transport companies etc. Their strong response indicates private enterprises are optimistic over the future market. After this rights offering, the shareholding ratio of Government shareholders of Yang Ming, including *MOTC, *NDFEY and *TIPC, will reach 38.23%. In addition, the private placement of capital increase which has been passed in 2016 shareholders' meeting is also on going steadily and is expected to be completed by the end of this year.

The improvement of business management and warming-up of market have boosted investors' confidence, Yang Ming says.

With the support from shareholders and the improved financial structure after the rights offering, the company vows to continue the strategy of opening new sources of revenue and reducing expenditures. It will work out various plans to make the performance of its fleet more effective and expand its service network throughout the world. At the same time, it will, in keeping with the government's New Southbound policy to find more partners to jointly develop investment projects in the realm of logistics striving toward the goal of making Yang Ming a still better marine transport company of the world.

*MOTC: Ministry of Transportation and Communications
*NDFEY: National Development Fund, Executive Yuan
*TIPC: Taiwan International Ports Corporation

Yang Ming Marine Transport Corporation published this content on 27 November 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 27 November 2017 03:31:08 UTC.

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Financials (TWD)
Sales 2019 148 B
EBIT 2019 285 M
Net income 2019 -590 M
Debt 2019 73 382 M
Yield 2019 -
P/E ratio 2019 -
P/E ratio 2020
EV / Sales 2019 0,64x
EV / Sales 2020 0,57x
Capitalization 20 675 M
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 7
Average target price 6,40  TWD
Spread / Average Target -28%
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Managers
NameTitle
Vincent Lin President, GM & Chief Operating Officer
Chih Chien Hsieh Chairman
Wen Tsao Huang Chief Financial Officer
Jung Kuei Wu Director
Jin Ru Yen Independent Director