Mercantile Ports & Logistics raises GBP9 million to repay part of loan - Morningstar

Mercantile Ports & Logistics has raised £9m from a retail offer, placing shares and subscription to help fund growth opportunities at Karanja port facility, which it owns and operates in India. The funds will mostly go towards the repayment of a loan facility entered into between Karanja Terminal & Logistics, the company's subsidiary in India, and four of the country's public sector banks. After the fundraise, the company will issue 301.5 million new shares.

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