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

People & Company News

Port of Vancouver CEO Coleman to Step Down

Todd Coleman, CEO of Port of Vancouver USA, step down from his position May 19, after 15 years with the port.   Coleman, a Professional Engineer, began his career with the port in 2001,

Jensen Debuts New Tractor Tug Design

Crowley Maritime Corp.’s Seattle-based naval architecture and engineering firm, Jensen Maritime, reports it has designed a new tractor tug for Vessel Chartering

Elandra Yachts Expands, Launches Finishing Department

Elandra Yachts has added another layer of craftsmanship to its boat-building operation with the launch of a new in-house paint department at the Gold Coast plant,

Finance

Transocean Posts Quarterly Profit on Cost Cutting

Offshore rig contractor Transocean Ltd posted a quarterly profit, compared with a year-earlier loss, as cost cutting helped counter a slump in crude oil prices.

Oil Turns Lower after US Crude Build

A bigger-than-expected build in U.S. crude inventories to fresh record highs pushed oil markets lower on Wednesday after an early rally over concerns about production

Elandra Yachts Expands, Launches Finishing Department

Elandra Yachts has added another layer of craftsmanship to its boat-building operation with the launch of a new in-house paint department at the Gold Coast plant,

 
 
Maritime Standards Naval Architecture Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics 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: 0.0917 sec (11 req/sec)