On 2 June, I blogged about FSL Trust's acquisition of a vessel and I was wondering if it would be a positive catalyst for its unit price since distributable income would likely increase. Read blog post
here.
Fast on the heals of that acquisition is another one. This time, "
the acquisition will be fully funded by the drawdown of US$23 million from the trust's existing revolving credit facility and US$23 million in cash - with around US$15 million to come from a private placement of up to 57 million new FSL Trust units." Read full article here.
So, although distributable income would likely increase, distribution per unit might not increase much since there is a private placement involved. The new units would be issued at a discounted price of 35c/unit and represent 8.6% of the total number of units in issue after the placement exercise is concluded.
Read announcement here....
On 2 June, I blogged about FSL Trust's acquisition of a vessel and I was wondering if it would be a positive catalyst for its unit price since distributable income would likely increase. Read blog post here.
