Yang Ming tries to dispel customers’ fears

Yang Ming has said in a customer advisory aimed at mitigating concerns that its suspension of trading in the Taiwan Stock Exchange is part of a standard procedure for companies implementing recapitalisation.

The struggling Taiwanese carrier voluntarily suspended the trading of its stock on the exchange from April 20 to May 3 following the announcement in early 2017 of a recapitalisation plan to reduce its equity capital.

During the pause in trading, the company’s outstanding issued shares will be cut to around 1.4bn shares, with a new share value expected to be about twice the share price prior to April 19.