Danaos Corp. Debuts on NYSE

Monday, October 09, 2006
The shares of Danaos Corporation commenced trading on the New York Stock Exchange as of Friday, October 6, 2006. With a market capitalization of approximately $1.2b and a current fleet of 27 containerships aggregating 116,115 TEUs, Danaos becomes the largest U.S. listed containership company in terms of fleet size and market capitalization and ranks among the largest containership charter owners in the world. Furthermore, the company has on order 16 additional containerships aggregating 84,704 TEUs with scheduled deliveries up to the end of 2009, all of which are already chartered to major companies for 12 years.

On Thursday, October 5 the company priced its Initial Public Offering of 10,250,000 shares of common stock at $21.00 per share representing the mid point of the filing range and raising approximately $198.2 million net of underwriting discounts and commissions and the estimated offering expenses. Danaos has granted the underwriters a 30-day option to purchase up to an additional 1,537,500 shares of common stock to cover over allotments, if any, in which case the net proceeds of the offering may increase up to $228.4 million. Following the offering, there will be 54,557,500 shares outstanding which may increase up to 56,095,000 shares, if the underwriters option is exercised in full.

To celebrate this special occasion, Dr. John Coustas, President and Chief Executive Officer, Mr. Iraklis Prokopakis, Vice President and Chief Operating Officer, Mr. Dimitri J. Andritsoyiannis, Vice President and Chief Financial Officer visited the New York Stock Exchange on Friday, October 6, 2006 and rang the Opening Bell.

Maritime Today


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

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

People & Company News

Swiber Applies for Judicial Management Instead of Liquidation

Singapore oilfield services company Swiber Holdings Ltd said on Friday it has applied to place itself under judicial management instead of liquidation.   Swiber

Cenac Marine to Christen New Vessel, Donate Barge

A ceremony will be held July 29 at Cenac Marine Services headquarters in, Houma, La. To commemorate the christening of its newest vessel, M/V Quincey Cenac, as

Concordia Maritime Posts Q2 Profit

Facing a “gradually deteriorating market,” Sweden based tanker shipping company Concordia Maritime said it was able to post a profit in Q2 2016 based on high vessel

Finance

U.S. Awards $61.8 Mln for Port Projects

U.S. Transportation Secretary Anthony Fox today announced 40 awards totaling nearly $500 million in funding for the  FY 2016 Transportation Investment Generating Economic Recovery (TIGER) grants.

Moody's: Challenges Ahead for Asian Port Operators

Moody's Investors Service says lackluster global growth, weak commodity prices, high capital expenditure commitments and a liner industry struggling with overcapacity

Swiber Applies for Judicial Management Instead of Liquidation

Singapore oilfield services company Swiber Holdings Ltd said on Friday it has applied to place itself under judicial management instead of liquidation.   Swiber

 
 
Maritime Security Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction 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: 0.0928 sec (11 req/sec)