Tufton Oceanic Assets Limited recently announced that it has raised gross proceeds of US$78.4 million by way of a Placing and Offer for Subscription of C Shares.

This represents a follow on raise from the Company’s IPO in December 2017 which raised US$91 million.

Tufton Oceanic Assets Limited was established to invest in a diversified portfolio of secondhand commercial sea-going vessels delivering strong cash flow and capital gains to investors. The Company’s investment manager is Tufton Oceanic Limited. The Company was admitted to the Specialist Fund Segment of the London Stock Exchange’s main market on 20 December 2017.

Singer Capital Markets acted as Joint Financial Adviser and Joint Placing Agent alongside Hudnall Capital.

Ticker (Ordinary Shares): SHIP

Current Market Cap (Ordinary Shares): US$98 million

Ticker (C Shares): SHPC

Market Cap (C Shares): US$78.4 million

[follow align=”center” twitter=”https://twitter.com/nplus1singer” linkedin=”https://www.linkedin.com/company/274452/”]