Taiwan's Yang Ming has banked TWD 2.62bn ($87.25m) from a second private placement backed by the government.

The containership owner said it sold 257.75m shares at TWD 10.18 each.

The National Development Fund took the stock, with government agencies now owning 45.07% of the company, up from 38.23%.

Last month, it completed an issue of 500m new shares at TWD 12 each, raising TWD 6bn.