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Troubled box line Yang Ming suspends share trading

from Lloyd's Loading List

After years of losses, Taiwanese container shipping line Yang Ming suspended trading in its stocks on the Taiwanese stock exchange until 4 May, to enable it to reduce its equity capital by more than 50 percent. The drastic step follows the January announcement that the Taiwanese line was pursuing a number of strategies including seeking government and private investment in a bid to recapitalise after losing more than $650 million in less than two years. more

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