Gas tanker firm Avance announces Oslo IPO

marinelink.com
Wednesday, March 12, 2014

Gas tanker operator Avance Gas Holding is planning an initial public offering (IPO) and aims to list its shares on the Oslo Bourse in April, one of its owners said on Wednesday, joining a flurry of Nordic firms planning stock market debuts.

"As part of the IPO, Avance Gas will raise new capital to pursue consolidation opportunities, and in addition, the three major shareholders are considering selling shares in order to facilitate sufficient share liquidity," Stolt-Nielsen Limited said.

Avance Gas was formed by a merger of shipping assets from Stolt-Nielsen, Frontline 2012 and Sungas Holdings, and the fleet consists of six very large gas carriers (VLGC), with eight further new-buildings on order.

The Nordic region has seen the announcement of several IPOs in recent weeks, including by Danish outsourcing firm ISS, Swedish property firm Hemfosa, Norwegian shipping firm Tanker Investments and Danish shipping fuel supplier OW Bunker.

Skandinaviska Enskilda Banken (SEB) will be global coordinator of the Avance IPO, while DNB Markets, Pareto Securities and SEB have been appointed as joint bookrunners. Danske Bank, Nordea Markets and Swedbank have been retained as co-managers.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

CMA CGM Intends Offer to Acquire NOL

Following the satisfaction and waiver (as the case may be) of the conditions set forth in the pre-conditional offer announcement dated 7 December 2015, CMA CGM S.

Oman Shipping Makes Profit

Oman Shipping Company (OSC) reported a $180 million profit in 2015. Tariq bin Mohammed Al Junaidi, chief executive officer of OSC has been quoted by  Oman News

Korean Shipbuilder Could Be Liquidated

South Korea's STX Offshore & Shipbuilding Co. has filed for receivership, following massive losses that have mounted up over the past two years, says a report in the WSJ.

LNG

NASSCO Lays Keel for Jones Act Tanker Liberty

U.S. shipbuilder General Dynamics NASSCO hosted a keel laying ceremony on Thursday, May 26 for the Liberty, one of three new ECO Class Jones Act tankers under a

Höegh LNG Turns to Profit in 1Q

Höegh LNG returned to profit following a Profit after tax of USD 6.3 million for the first quarter of 2016, up from USD 4.0 million net loss in the fourth quarter 2015.

World’s Biggest LNG Buyer Becomes Seller

EDF Trading, a wholly-owned subsidiary of French power giant EDF, has signed an LNG sales and purchase agreement with Japanese LNG aggregator Jera Co Inc, one

News

APM Terminals Bahrain Push for Safety, IT systems

Hidd, Khalifa Bin Salman Port, Bahrain - APM Terminals Bahrain, operators of Khalifa bin Salman Port (KBSP), has recently made significant advances in Safety performance

Seized Hanjin Shipping Vessel Resumes Operation in South Africa

Hanjin Paradip resume  its sailing from South Africa as talks continue with owner over unpaid charter fees. The ship had been detained in Richards Bay, South Africa

Deployment: The Transpacific Trade Steps Up To The Plate

In 2015, it was the Asia-Europe route which was the focus of changing deployment trends, says Clarksons Research.   This year, it is the Transpacific trade which

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Offshore Oil Pipelines Pod Propulsion Salvage Ship Repair Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0841 sec (12 req/sec)