Himalaya issued 2,650,000 new shares. The subscription price per offer hare is 60.50 Norwegian krone, the NOK equivalent to the $5.77 closing price on the New York Stock Exchange on Wednesday.
According to a statement by Himalaya, the purpose of the placement is to “attract key, strategic shareholders to the company, and to raise proceeds to be used for general corporate purposes.”
“The company has, after being approached by a high-quality strategic investor, directed the private placement primarily towards this investor, subscribing for the NOK equivalent to $10 million in the private placement,” it said.
Further, certain members of the Himalaya’s board, management, and certain “proactive key shareholders”, including Drew Holdings, have requested and been allocated offer shares.
“We are excited about a strong new strategic shareholder, and we think over time it can bring more value than just capital to the company,” CEO Herman Billung said.
“The increased investor interest in Himalaya Shipping is a testament to the quality of the ships and our solid operations. With $15 million of additional working capital, an improving market, and no further expected significant investment plans, we will be able to accelerate further returns to our shareholders,” he said.
Himalaya recently converted the index-linked charters to fixed rate time charters for two of its LNG-powered Newcastlemax bulk carriers.
The charter deals were converted for Mount Norefjell and Mount Hua from April 1, 2025 to December 31, 2025.
Following this, the company has 10 vessels trading on index-linked time charters.
Himalaya has 12 LNG-powered Newcastlemax bulk carriers in its fleet.
In June 2024, China’s New Times delivered Himalaya’s final bulk carrier, Mount Emai.
