Mainboard-listed Tat Hong Holdings, one of the world’s largest crane companies, today announced that it has entered into a deal with strategic investor AIF Capital III Shipping & Logistics to issue 65 million convertible redeemable preference shares at $1each.

AIF Capital III Shipping & Logistics is a unit of AIF Capital Asia III, L.P., a pan-Asian private equity fund that focuses on providing capital for the expansion, buyout or recapitalisation of both listed and private companies.