Shipping firm Wintermar Offshore Marine has gained approval from shareholders to launch the private placement. It will issue 400 million new sharea without pre-emptive rights, targeting to raise Rp258.48 billion. The placement of shares will provide the WINS Group with  access to funding during the  next two years. Cash raised from the fund raising will be used to reduce debt, provide   working   capital   and   funding   for   business development.