OSG follow-on issue nets $159m

Rajesh Joshi - Wednesday 10 March 2010

OVERSEAS Shipholding Group has confirmed it received net proceeds of $158.6m via a follow-on share offering that closed in New York at $45.50 a share.
Announced last Thursday, the issue of 3.5m shares is ostensibly designed to enable the New York tanker major to strengthen its balance sheet, including repayment of an unspecified amount of debt.
Th...

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