Q&A: GCI
Jun 10, 2013
Rickmers Trust Management: Sealing a rights issue in a turbulent market
Rickmers Trust Management CFO Gerard Low on how he raised equity after its bankers tied the noose around debt financing.
Q: Briefly, what is your business model?
A: We are the trustee-manager of Rickmers Maritime. Rickmers Group is a family-owned business from Hamburg with a 180-year history, currently run by its fifth generation. They realised they need to tap a bigger capital market to fund bigger ships. They listed the shipping trust on the Singapore stock exchange in 2007 as a vehicle to raise funds for shipping investments.
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