Ocean Tankers IPO to Raise $15m

Thursday, June 29, 2006
According to Financial Mirror, Ocean Tankers Holdings Public Co. will be the first ocean-going shipping company to go public on the Cyprus Stock Exchange later this summer, after the Nicosia bourse failed to attract the flotations of three other Cypriot-owned shipping companies. Stelios Haji-Ioannou’s Stelmar, Charalambos Mylonas’ Transmed and the Mouskas family’s Zela Shipping were all companies that took a stab at the island’s exchange and gave up as the CSE authorities deliberated endlessly about the criteria for listing. The Ocean Tankers initial public offering (IPO) of approximately $15m, representing 30% of the company after the flotation, is expected to take place during the next two months as Ioannides embarks on a pre-marketing road show where he will announce novel ways to protect shareholder interest. The funds raised from the listing will be used to expand the fleet with new tankers as Ioannides stays ahead of the competition and builds up his fleet of double-hull tankers. Ocean Tankers presently has three vessels in its fleet -- the 8,000 dwt Victor, the new Chinese-built 7,600 dwt Timi and the 4,500 dwt Eleousa Trikoukiotisa, built in 2000. Source: Financial Mirror
Maritime Reporter May 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

USS Montpelier Modernization Contract for General Dynamics

The U.S. Navy has awarded General Dynamics Electric Boat a $46.4 million contract for planning efforts in support of maintenance and modernization work on USS Montpelier,

Pentair Opens Aquaculture Center of Excellence

Mindful that fish farming has the potential to help meet an expanding  population's need for protein in a world with increasing water constraints, Pentair announced

Scorpio Tankers' Buyback Plan, Newbuild Delivery

Scorpio Tankers Inc. announced today (i) a new $250 million Securities Buyback Program, (ii) that it has recently taken delivery of an MR product tanker and

Maritime Safety

USS Montpelier Modernization Contract for General Dynamics

The U.S. Navy has awarded General Dynamics Electric Boat a $46.4 million contract for planning efforts in support of maintenance and modernization work on USS Montpelier,

Great Barrier Reef Kept Off UNESCO 'Danger' List

A heritage committee of the UNESCO cultural agency stopped short of placing Australia's Great Barrier Reef on an "in danger" list, but the ruling on Friday raised

Mass. Maritime Taps McDonald as New President

EVP Fran McDonald tops a field of five; choice still must be approved by Massachusetts Board of Higher Education.   Pending a confirmation vote by the Massachusetts Board of Higher Education (BHE),

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Pod Propulsion Salvage Ship Repair Ship Simulators 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: 0.1146 sec (9 req/sec)