The placement price of 14.5 cents is a discount of around 9.994% to the volume-weighted average price of 16.11 cents on the last full market day of Feb 20 and noon Feb 23, when a trading halt was called.
The new shares, if all placed out, will enlarge the company's share base by 3.71%.
Just a month earlier, investor Michael Kum paid 13 cents for 150 million shares sold by existing Marco Polo Marine investor Apricot Capital.
Marco Polo Marine shares last traded at 16 cents.
