Kuang Ming Shipping Corp. announced a private placement of minimum of 88,667,384 common shares and maximum of 100,000,000 common shares at a provisional price of TWD 10 for gross proceeds between TWD 886,673,840 and TWD 1,000,000,000 with returning investor Yang Ming Marine Transport Corporation (TSEC:2609) on January 25, 2019. The transaction was approved by the investor’s board of directors.