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.


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


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


Omega Navigation Takes Delivery of Tanker

Omega Navigation Enterprises, Inc. took delivery of its Panamax (LR1) double hull product tanker, the Rudolf Schulte, to be renamed the Omega Queen. The Omega Queen is a Panamax (LR1) double hull product tanker of 74,999 deadweight ton (dwt) built by Hyundai Heavy Industries, South Korea in 2004. The acquisition was funded by in part from proceeds of the Company's initial public offering and debt under a senior secured credit facility provided by HSH-Nordbank AG.


Ocean Tankers covers IPO, asks for extension

The Financial Mirror has reported that Ocean Tankers Holdings Pcl has covered its initial public offering but has requested an extension until November 8 in order to allow time to the CSE to open trading accounts for overseas investors, mainly Greek shipowners who are participating in the issue. Ocean Tankers offered a total of 3 mln shares during the IPO aiming to raise CYP 755.700 and according to confirmed reports has completed the issue at least one time.


Teekay Offshore Raises Distribution; Completes FSO Acquisition

Teekay Offshore Partners L.P. (Teekay Offshore or the Partnership) (NYSE: TOO) announced that its general partner has increased its quarterly cash distribution by $0.035 per unit, from $0.35 per unit to $0.385 per unit ($1.54 annualized) as a result of the previously announced acquisition of the shuttle tankers Navion Bergen and Navion Gothenburg. The cash distribution will be paid on November 14, 2007, to all unitholders of record on November 7, 2007.


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."


Fincantieri Eyes Valuation of up to 1.8b Euros in Float

Photo: Fincantieri

Italian state-owned shipmaker Fincantieri aims to make its debut on the Milan bourse in July with a stock market value of up to 1.84 billion euros ($2.5 billion), it said on Friday. Fincantieri, maker of vessels ranging from luxury yachts to military aircraft carriers


Fincantieri Will Not Pay Dividends in Medium-term

Photo courtesy of Fincantieri

Italy's Fincantieri, whose initial public offering started on Monday, will not pay dividends in the medium-term, the shipmaker's Chief Financial Officer Fabrizio Palermo said at the roadshow before the listing. Fincantieri's Chief Executive Giuseppe Bono explained the company would not pay


Institutional Part in Fincantieri IPO Still Not Fully Covered

Fincantieris Ancona yard (Photo courtesy of Fincantieri)

The part reserved to institutional investors in the initial public offering of Italian shipbuilder Fincantieri was still not fully covered as of Wednesday evening, two sources close to the matter said on Thursday. The company is likely to increase the percentage of shares it has reserved for


Höegh LNG Partners Launch IPO

  Höegh LNG Partners LP ("Partnership"), a Marshall Islands limited partnership formed by Höegh LNG Holdings Ltd. ("Company"), announced today that it has commenced an initial public offering of 9,600,000 common units representing limited partner interests in


Parsley Energy Makes Public $400 Mln IPO Plan

 Parsley Energy Inc made public its plan to raise up to $400 million in an initial public offering of    Class A common stock.   The oil and natural gas company filed confidentially with U.S regulators for the proposed IPO in December.  


POSH may raise $311 Mln in Singapore IPO

PACC Offshore Services Holdings (POSH) could raise at least S$388.27 million ($311 million) after pricing its initial public offering near the bottom of the pricing range indicated earlier, two sources with knowledge of the matter said.


POSH raises $311m in Singapore IPO

Image: POSH file photo

POSH prices IPO at S$1.15 per share, near bottom of indicative range. POSH focuses on service to production, maintenance and is keen on growing offshore accommodation business. PACC Offshore Services Holdings (POSH) could raise at least S$388


Shipping Turns From Banks to Equity Markets for Cash

File photo

Shipping companies are turning to equity markets to fill a growing funding gap, betting that investors hungry for decent returns will provide capital to a sector recovering from its worst downturn since the 1980s. Ship owners ordered large numbers of vessels between 2007 and 2009


Scorpio Bulkers Remain Confident Despite Q1 2014 Loss

Bulk carrier: Image Scorpio Bulkers

Scorpio Bulkers Inc. has reported its results for the three months ended March 31, 2014. In connection with comparisons of financial performance they say they had no operations from the period from March 20, 2013 (date of inception) to March 31, 2013.


China Nuclear Power Plans $2.6 Bln Share Sale In Industry's First IPO

  China National Nuclear Power Co Ltd said it plans to sell shares publicly in Shanghai aiming to raise 16.3 billion yuan ($2.60 billion), the first initial public offering from the industry as China resumes expansion on its nuclear power capacity.


GasLog to List on NY Bourse

Image courtesy of GasLog

LNG carrier owners and operators, GasLog Partners LP, inform it has priced its initial public offering of 8,400,000 common units representing limited partner interests at $21.00 per common unit. The common units will begin trading on the New York Stock Exchange on May 7


Omani Power Firms Set To Double Profits After Share Offer

Logos

  Oman's Al Batinah Power Co and Al Suwadi Power Co, which launched twin initial public share offers on Sunday and are owned by the same consortium, will double their profits from 2014 to 2018 as they pay off start-up costs, a top executive said.


GasLog Partners Announce Closing of its IPO

GasLog

  GasLog Partners LP, an international owner, operator and manager of LNG carriers, today announced the closing of its initial public offering of 9,660,000 common units representing limited partner interests (the “common units”), including 1,260


GE CEO Immelt: Expects to Close Alstom Deal

General Electric Co Chief Executive Jeff Immelt

General Electric Co Chief Executive Jeff Immelt said on Wednesday that GE is still going to "work constructively" with the French government on its bid for the power business of Alstom and that he expects the deal to close. GE has encountered resistance to its $16


Nordic American Companies' Financial News

Image courtesy of NAT

Nordic American Tankers Limited (NAT) says it has bought two Suezmax tankers, bringing its fleet to 22 Suezmax vessels. Secondly, Nordic American Offshore Ltd. (NAO) announces a proposed public share offering. Details as follows: 1. Nordic American Tankers






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