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. 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.
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
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)
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 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
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.
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."
Euronav NV will repay the US$235 million bond issued to finance the acquisition of 15 VLCC oil tankers from Maersk Tankers Singapore, following a closure of its Initial Public Offering (IPO) of ordinary shares on the New York Stock Exchange. According to press release, Euronav issued notice to exercise its right to request the contribution of 30 outstanding perpetual convertible preferred equity securities on January 30, 2015. It expects to repay the bond on or around February 19, 2015
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.
German shipping group Hapag-Lloyd priced its initial public offering (IPO) at the low end of a revised range, giving the group a market capitalisation of about 2.4 billion euros ($2.6 bln) or less than half the original target. Hapag-Lloyd shares were sold at 20 euros ($21
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
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
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
Israel’s Zim Integrated Shipping Services has hired two banks to carry out its initial public offering (IPO) in the US, Bloomberg reported. Zim Integrated Shipping Services Ltd has hired Bank of America Corp.’s Merrill Lynch unit and Barclays Plc to lead a New York IPO
Confirming that the company is preparing its initial public offering, Hapag-Lloyd said it “expects total gross proceeds in the equivalent euro amount of US$500 million from the IPO,” says a report in Reuters. Rolf Habben Jansen
Container shipping group Hapag-Lloyd trimmed its initial public offering (IPO) amid wobbly markets on Wednesday, saying it now expected to raise about $300 million from the sale of shares to investors. The group, which gave a 23-29 euros price range for the shares
Container shipping group Hapag-Lloyd has received bids for all of the shares on offer for its planned stock market flotation on Oct. 30, a person familiar with the deal said. "Books are fully covered including greenshoe (overallotment option)," the source said on Friday.
German container shipping group Hapag-Lloyd is likely to price its initial public offering (IPO) at the bottom of the price range, two people familiar with the process said on Monday. "The final price guidance is 23 euros a share," one of the sources said.
German container shipping group Hapag-Lloyd has extended the offer period for its initial public offering (IPO) by a week to Nov. 3, the company said on Tuesday. Books were slated to close on Tuesday and trading was to start Friday, but demand for the shares remains subdued even after
German container shipping group Hapag-Lloyd AG is postponing its stock market debut by a week after investors shied away from the company following Maersk Line’s modest profit forecast last week, reports Reuters. If demand for the shares remains weak Hapag may lower the offer
GasLog Partners LP, an international owner and operator of liquefied natural gas (LNG) carriers, increased quarterly cash distribution by 10% to $0.478 per unit for the third quarter of 2015, equivalent to $1.912 per unit on an annual basis.
Investors have confirmed their orders for shares in Hapag-Lloyd's initial public offering, covering the books and the greenshoe option after the German shipper adjusted the price range, a source familiar with the matter said. "It went more quickly than expected
German shipping group Hapag-Lloyd is likely to price its initial public offering at the low end of a revised range of 20-22 euros ($22.08-$24.29) a share, a person familiar with the matter told Reuters on Monday. "It's no easy thing," the person said
The shares of German container line Hapag-Lloyd will now be offered at between 20 and 22 euros ($22-$24.20) each, down from 23-29 euros previously, reports Reuters. Its initial public offering on the stock exchanges in Hamburg and Frankfurt set to commence on November 6