Maritime & Merchant AS (M&M) (TBR Maritime & Merchant Bank ASA) has received regulatory approval to operate a private bank in Norway, underpinning the firm’s strategy to become a niche financial institution dedicated to meeting the funding needs of owners active in the shipping and offshore industries, worldwide. “We are currently preparing for a capital issue with a target of $300-350 million (USD) in equity to fund operations. We have selected Pareto Securities AS and DNB Markets as Joint Lead Managers and Bookrunners, with Cleaves Securities to act as Financial Advisor.