Dresser-Rand Prices IPO

Friday, August 05, 2005
Dresser-Rand Group Inc. has priced its initial public offering of 27,000,000 shares of common stock at $21.00 per share. All of the shares are being offered by Dresser-Rand Group Inc. The common stock will begin trading tomorrow on the New York Stock Exchange under the symbol "DRC."

Morgan Stanley & Co. Incorporated and Citigroup Global Markets Inc. are serving as joint book-running managers of the offering. UBS Securities LLC is co-lead manager of the offering, and Bear, Stearns & Co. Inc., Goldman, Sachs & Co., Lehman Brothers Inc., Natexis Bleichroeder Inc., Simmons & Company International and Howard Weil Incorporated are co-managers of the offering. Dresser-Rand Group Inc. has granted the underwriters an option to purchase up to an additional 4,050,000 shares at the public offering price to cover over-allotments, if any.

The public offering is being made by means of a prospectus, copies of which may be obtained from Morgan Stanley, Prospectus Department, 1585 Broadway, New York, New York 10036 (tel. 212-761-6775) or Citigroup Global Markets Inc., Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, New York 11220 (tel. 718-765-6732).

Maritime Today

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

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


S&P Raises Steamship Mutual outlook to Positive

Poor’s has revised its outlook on Steamship Mutual to Positive from Stable. The A- financial strength rating has been reaffirmed. In their announcement Standard

Norwegian Escape with Biggest Scrubbers sets Sail

On a sunny October day in the German harbor-town of Hamburg, M/V Norwegian Escape, a brand new cruise ship, sets sail for the first time. On board are five Yara SOx scrubbers – one for each engine.

ZIM Integrated Shipping Remains Profitable

Despite challenging market environment with freight rates reaching historic lows in several key trades,  ZIM Integrated Shipping Services continues to outperform

Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Ship Electronics 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: 0.0987 sec (10 req/sec)