The Hong Kong-based shipping company executes a deal that is viewed as well priced, and only two days after Vedanta issues another well-received deal, sparking hopes of a pickup in CB issuance in Asia.
Expectations of continued strong demand for dry-bulk goods offsets the impact of volatile markets, allowing the shipping company to raise $1.47 billion.
The first of two shipping companies to seek a Hong Kong listing is banking on higher freight rates and aggressive fleet expansion to boost its earnings.