Himalaya Shipping, which is acquiring a fleet of vessels for maritime shipping of bulk dry goods, raised $45 million by offering 7.7 million shares at $5.80, slightly below the as-converted March 30 close of its shares on Oslo's Euronext Expand ($5.85).
Himalaya Shipping is in the process of acquiring 12 Newcastlemax dry bulk vessels. The company has already received two, and 10 are currently being built at a shipyard in China with delivery dates between April 2023 and August 2024. Utilizing dual fuel LNG technology, Himalaya Shipping aims to increase efficiency of its vessels on a global scale, operating with key trades from Brazil to China and Australia to China. It expects to transport a broad range of major bulk commodities, including iron ore, coal, and bauxite with an aggregate carrying capacity of 2.5 million dwt.
Himalaya Shipping plans to list on the NYSE under the symbol HSHP. DNB Markets, Clarksons Securities, ABG Sundal Collier, Arctic Securities, BTIG, and Fearnley Securities acted as joint bookrunners on the deal.
