Russian containership owner Fesco is lining up a stock offering following its restructuring.

The company's board has approved an issue of 100m shares.

This could bring in RUB 750m ($13.34m) at a trading price of RUB 7.50 on Thursday.

In November, Fesco completed its notes restructuring with a $551.7m payment to holders.

It used a recently arranged loan with VTB Bank worth up to $680m.