Wallenius Wilhelmsen raise capital for expansion

WALLENIUS WILHELMSEN has raised US$300 million in a private placement of new shares as it flags up to 12 additional newbuildings deliverable from 2030 onwards.

Overnight European time the PCTC, ro-ro and vehicle logistics specialist raised the capital through the allocation of 17,145,000 offer shares at an offer price of NOK 168 per offer share.

Through the private placement, the company says it is expanding its newbuilding program to strengthen its leading position in the deep-sea ro-ro segment.

“The company is in advanced discussions with yards to enter into shipbuilding contracts for 4 x large dual-fuel LNG vessels at attractive terms, with delivery in 2030 and options for additional 8 x newbuilds at similar terms, with quarterly deliveries from 2031 and onwards.

“This decision will extend the newbuilding program to a total of 26 vessels (including options), with steady deliveries from Q3 2026 through 2032, increasing the company's operating leverage towards a structurally strong car carrier market.

“The net proceeds will, together with debt financing, be used to fully finance the total newbuild program, and for general corporate purposes. The private placement will further allow the company to maintain a robust balance sheet, providing flexibility to pursue attractive growth opportunities as they arise and provide shareholders with a competitive return over time through a combination of rising value for the Wallenius Wilhelmsen share and dividend payments.”

Due to the significant demand for offer shares, and to support liquidity and overall investor diversity, the company's largest shareholder, Wilh. Wilhelmsen Holding ASA, was allocated 2,850,000 offer shares (equal to 17% of all offer shares).

Of particular interest WW partner Wallenius Lines AB, wholly owned by Rederi AB Soya, said that “while Soya Group remains highly supportive of the company's strategy and proposed transaction, due to the size of its shipping investment relative to the Soya Group's overall portfolio, Wallenius has decided to not participate in the private placement.”

This year Wallenius has bought out its partners in Wallenius SOL, and placed orders in China for two additional multi-fuel battery hybrid PCTCs for European shortsea operator United European Car Carriers, jointly-owned with Japan’s NYK.

For Q3 2026 WW expects an adjusted EBITDA in the range of USD 420-450m, and an adjusted 2026 full-year EBITDA of about USD 1.6 billion.

In August Scandinavian rival Höegh Autoliners announced orders for up to ten additional Aurora-class PCTCs.