Softship Issues IPO At $3.42 Per Share

Tuesday, June 19, 2001
German software company Softship will issue shares in its initial public offering at $3.42 per share, below the company's $4.50-$5.35 bookbuilding range, the lead underwriter said on Tuesday.

Andreas Beyer, CEO at VEM Virtuelle Emissionshaus, reportedly said the company would delay its initial public offering by one day to June 22 to allow investors to place orders for the stock at the reduced issue price.

Due to adverse market conditions, Softship, which makes software for the shipping industry, will not be listed in the small-cap SMAX index but on stock exchange's official trading segment.

The company's lower-than-expected issue price comes amid an increasingly unfavorable market environment for IPOs in Germany.

Hamburg-based Softship plans to issue 750,000 shares as part of a capital increase, which will bring its freefloat to 44 percent.

The company said it planned to use expected IPO proceeds of around three million euros ($2.57 million) to expand its marketing and sales network.

Maritime Reporter September 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


Eletrobras says Compensation for Hydro Plants Could be $330 mln

Brazil's state-run utility Eletrobras said on Friday a report into six hydroelectric plants found the assets had a remaining value of 1.3 billion reais ($332

Brazil Court Allows Lula Questioning in Petrobras Corruption Case

Brazil's Supreme Court authorized the questioning by Federal Police of ex-President Luiz InĂ¡cio Lula da Silva as a witness in a broadening corruption case focused

MARAD to Fund Study on LNG Conversions

MARAD provides funding to further study LNG as marine fuel for containerships The U.S. Maritime Administration (MARAD) announced it has entered a $900,000 cooperative

Maritime Careers / Shipboard Positions Maritime Security Navigation Offshore Oil Pod Propulsion Port Authority Ship Repair Ship Simulators Sonar Winch
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: 0.2413 sec (4 req/sec)