Marine link
 

Initial Public

NAO Exercises Option to Purchase Shares

Nordic American Offshore Ltd. (NAO) announced that the underwriters of the company's initial public offering, which closed on June 17, 2014, have exercised in full their option to purchase an additional 882,352 common shares. The sale of these common shares isexpected to close on June 26, 2014. After the exercise of the overallotment option, there are 23,431,370 shares in issue in NAO. The total capital inflow into NAO from the Initial Public Offering and the exercise of the overallotment is in total about $100m. The company intends to use the net proceeds of this offering for acquisitions and general corporate purposes, including working capital. Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC and DNB Markets, Inc. are acting as joint book-running managers. In addition, Global Hunter Securities, LLC is acting as a co-manager for the initial public offering.  


Transocean Inc. Subsidiary - Todco - to go Public

Transocean Inc. said its subsidiary TODCO (formerly R&B Falcon Corporation) has filed a registration statement on Form S-1 with the Securities and Exchange Commission in connection with the previously announced initial public offering of its Gulf of Mexico Shallow and Inland Water business segment. The registration statement relates to TODCO common stock to be sold by Transocean in the offering. TODCO does not expect to sell any shares in the offering.


Chiles IPO Shelved Indefinitely

Chiles Offshore Inc. postponed indefinitely its initial public stock offering because of market conditions, lead underwriters Credit Suisse First Boston said. The Houston-based company expected to price 8 million shares between $17-$19 per share. Chiles Offshore was the second company to postpone its IPO on Monday because of uncertainty in the market, joining Taiwan-based Digital United Holdings Ltd.


New Century Shipbuilding Seeks $500-800M IPO

According to a report from Dow Jones, Chinese shipbuilder New Century Shipbuilding Ltd. plans to raise $500m - $800m in an initial public offering ahead of a listing in Hong Kong in the first half, Dow Jones sources said. New Century submitted an application for the listing earlier this month and will have a listing hearing at the Hong Kong stock exchange in February, according to those sources. (Source: Dow Jones)


Fincantieri to List Stake Close to 50%

Photo courtesy Fincantieri

Italian state-owned Fincantieri plans to list a stake close to 50 percent in its initial public offering on the Milan bourse, a source close to matter said on Tuesday. The group, wholly owned by state lender Cassa Depositi e Prestiti (CDP), which in turn is controlled by Italy's Treasury, announced earlier on Tuesday it has filed for listing. The sale of a minority stake in the group is part of a privatisation push the Italian government launched last year to raise funds to cut its


Euronav Announces IPO in the US

Photo: Euronav

Euronav NV announced the commencement of its underwritten initial public offering in the United States of 13,550,000 ordinary shares. The company will grant the underwriters a 30-day option to purchase additional ordinary shares representing up to 15% of the offered shares.    On January 19, 2015 the closing price of the company’s ordinary shares on Euronext Brussels was $12.94 per share (based upon the Bloomberg Composite Rate of EUR 0.8604 per $1


Costamare Declares Quarterly Dividend

Costamare Inc. (NYSE: CMRE), owners and providers of containerships for charter, announced that the company's board of directors declared a dividend for the fourth quarter ended December 31, 2010, of $0.25 per share payable on February 4, 2011 to stockholders of record at the close of trading of the company's common stock on the New York Stock Exchange (NYSE) on January 28, 2011. This is the first cash dividend the Company has declared since its initial public offering on November 4, 2010


Nordic American Offshore Prices IPO

File photo

Nordic American Offshore Ltd. says it has priced its initial public offering of 5,882,352 common shares at $16.00 per share.  The Company adds that it has granted the underwriters a 30-day option to purchase up to 882,352 additional common shares to cover over-allotments. The Company's common shares are expected to commence trading on June 12, 2014 on the New York Stock Exchange under the symbol "NAO."


Hapag-Lloyd CEO Says IPO Not Top Priority Right Now

German container shipping group Hapag-Lloyd, which is merging with Chile's Compania SudAmericana de Vapores, is in no rush to list its share on the stock exchange, its chief executive said on Wednesday. "A stock market flotation is currently not top priority for us," Rolf Habben Jansen said, adding the company would first focus on integrating Vapores into its business. In the longer run, Hapag-Lloyd still aims to launch an initial public offering


Hapag Lloyd IPO Valued at Over $5.5 Bln

Photo: Hapag-Lloyd AG

 A flotation of a minority stake could value the world's fourth-largest shipping group German-Chilean Hapag-Lloyd AG at more than 5 billion euros ($5.5 billion) and could take place as early as autumn.   Hapag-Lloyd AG has already mandated investment banks Deutsche Bank AG, Goldman Sachs Inc. and Joh. Berenberg, Gossler & Co. to advise on the initial public offering (IPO), as per various media reports.  


Seaways Shipping Set to Go Public

Pic: Seaways Shipping

 Logistics service and solutions provider Seaways Shipping & Logistics Ltd has filed draft papers with the capital markets regulator Securities and Exchange Board of India (SEBI) for its initial public offering (IPO).    


TRAC Intermodal Mulls Sale or IPO

Image by TRAC Intermodal

 TRAC Intermodal LLC is exploring a sale or an initial public offering (IPO) after pulling a $485 million bond offering last week, reports WSJ quoting the chief executive Keith Lovetro.   Princeton, N.J.-based TRAC, one of the largest leasing companies for trucking equipment


Danish Investors Summon OW Bunker Parties to Court over Bankruptcy

File photo: OW Bunker

A group of 26 institutional investors has issued a summons against bankrupt Danish ship fuel supplier OW Bunker in the latest stage of a legal campaign for allegedly misleading them in its 2014 initial public offer (IPO).   The investors had said last year they would sue Bunker


Spivak Appointed CFO, Seaspan

Logo

 Seaspan Corporation announced today that David Spivak is joining the Company as its Chief Financial Officer, starting May 2, 2016. Mark Chu will continue to serve as interim CFO until David's arrival, whereupon Mark will continue in his current roles as Vice President


IPO: Hapag-Lloyd Raises $300 Million

Photo: Hapag-Lloyd

 Hapag-Lloyd AG, the German container shipping company, has succeeded in completing its  initial public offering (IPO), after a hard campaign in which the outcome sometimes looked in doubt.   It has set the final offer price for its shares at €20 ($21


Tepid Reception for Hapag-Lloyd IPO

file image: A Hapag-Lloyd boxship loading at berth.

Hapag-Lloyd CEO says IPO preparation a "tough fight" but firm reaps $300 million in proceeds. Shares in Hapag-Lloyd hovered around their issue price in their stock market debut as investors gave the German shipping group a lukewarm reception reflecting uncertainty over the resilience


Hapag-Lloyd Posts Third Straight Quarter of Profits

Photo: Hapag-Lloyd

German continuer shipping company Hapag-Lloyd AG recorded its third consecutive profitable quarter, marked by higher transport volumes and reduced shipping costs in the third quarter of 2015.   For the first nine months of 2015, the shipper posted a €6.8 billion revenue, up €1


Latvian Shipping's IPO in 2016

Photo: A/S Latvijas kuģniecība

 Marine petroleum transportation specialist Latvian Shipping Company (LSC) hopes to raise EUR 80 million via an initial public offering (IPO) on the Riga Stock Exchange in the first half of 2016.   The Supervisory Council of LSC has supported the Management Board’s proposal to


Dynagas LNG Partners Acquires LNG Carrier

Photo:  Dynagas LNG Partners LP

 Dynagas LNG Partners LP has entered into an agreement with Dynagas Holding Ltd to purchase 100% of the ownership interests in the entity that owns and operates the Lena River, a 2013 built 155,000 cubic meter ice class liquefied natural gas carrier


ZIM to Expand Its Refrigerated Container Fleet

Photo: ZIM Integrated Shipping Services

 ZIM Integrated Shipping Services has announced the expansion of its refrigerated container fleet in order to answer the demand for its innovative ZIMonitor service.    Launched in early 2015, ZIMonitor allows customers to track, monitor and remotely control sensitive


India Seeks Merchant Banks for Cochin Shipyard IPO

Image: Cochin Shipyard Ltd

 Indian Government has initiated procedures for sale of shares of Cochin Shipyard Limited (CSL) by seeking expression of interest (EoI) from merchant bankers to manage the initial public offering (IPO).   The listing will involve the sale of some 33.98m shares, of which 22


Maybulk Issues Profit Warning

Photo: Malaysian Bulk Carriers

 Malaysian Bulk Carriers Bhd (Maybulk) is forecasting significant losses for the fourth quarter of 2015 and the financial year ended December 31, 2015 amid depressed market condition.   Maybulk, which operates the country’s largest fleet of dry bulk vessels used for international


Sovcomflot IPO Expected in Q3 2016

Image:  PAO Sovcomflot

 The Russia's top shipping company Sovcomflot initial public offering (IPO) is expected in Q3 2016, part from the privatization program by the government.    An IPO for Sovcomflot could take place later this year. The current fleet of Sovcomflot numbers 142 vessels with total


US Coast Guard Wraps up First Phase of El Faro Disaster Probe

El Faro (File photo: TOTE)

The U.S. investigation into the deadly sinking of the El Faro cargo ship during a hurricane last fall shifted direction on Friday, as the Coast Guard wrapped up its initial public hearings on the accident that killed all 33 people onboard.  


DONG Postpones Major Oil Project Offshore Denmark

DONG Energy <IPO-DONG.CO> has terminated a contract to build an oil and gas platform for its Hejre field, postponing indefinitely the major development offshore Denmark, the Danish majority state-owned utility said on Tuesday.  






 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright