Royal Vopak NV’s AVTL Joint Venture Equity Issue Update

Royal Vopak NV (GB:0O8V) has released an update.

Royal Vopak NV’s joint venture, AVTL in India, has announced a primary equity issue of INR 8.0 billion, equivalent to EUR 88 million, to repay borrowings and fund growth projects. This transaction will dilute Vopak’s shareholding in AVTL from 49% to 47.3%, with 360 ONE as the lead investor. AVTL continues to explore various funding options to support its expansion and maintain its position as a leading tank storage operator in India.

For further insights into GB:0O8V stock, check out TipRanks’ Stock Analysis page.