Yangzijiang Maritime closes 11.7% above issue price of S$0.60 in active trading debut

[SINGAPORE] Shares of Yangzijiang (YZJ) Maritime closed at S$0.67 on Tuesday (Nov 18) – 11.7 per cent above the issue price of S$0.60 per share – as the company debuted on the Singapore Exchange mainboard.

The counter rose to an intraday high of S$0.71 at 9.03 am, before paring some gains by market close. Some 58 million shares changed hands over the course of the day.

YZJ Maritime is a spinoff from the maritime investment segment of YZJ Financial. YZJ Financial itself was similarly spun out of YZJ Shipbuilding in 2022.

Shares of YZJ Financial dipped 6.8 per cent or S$0.035 to $0.48 on Tuesday, with around 37.3 million securities transacted.

YZJ Maritime raised gross proceeds of at least S$5.2 million via a private placement of around 8.6 million fully paid ordinary shares at S$0.60 apiece. Its parent company issued to its shareholders shares in YZJ Maritime on a one-for-one basis. As at Jun 30, YZJ Maritime had a net asset value of over US$1.57 billion, where the company recorded earnings of US$63.54 million for H1 2025, compared with US$68.91 million for the same period a year prior.

The maritime-focused investment company has core businesses in maritime asset investments and ship financing. It also invests in vessels for charter and sale via joint ventures and leasing models.

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On Monday, YZJ Maritime also announced that it had inked various vessel deals, as part of its ongoing portfolio optimisation strategy, on top of capital recycling. This included contracts with a Marshall Islands-based shipowner for the sale of four new medium-range tankers with an aggregate gross value of US$180 million.

It also involved letters of intent for joint ventures to build four new medium-range tankers of 49,800 deadweight tonnage (dwt) with a European shipowner; and for four new bulk carriers of some 40,000 dwt with a Singapore-based shipowner.