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 Today


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

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

Finance

Defense Appropriations Bill Includes $1 Bln for US Icebreaker

The U.S. Senate Appropriations Committee’s FY2017 Defense Appropriations Bill has included $1 billion in funding to accelerate construction of a new polar icebreaker for the U.

Higher Capesize Demand Pushes up Baltic Index

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Friday buoyed by higher demand for capesize vessels.

TT Club Reports Robust Financial Results for 2015

TT Club has announced its financial results for the year ended December 31, 2015, and AM Best affirms its A- (Excellent) rating for the 10th consecutive year.   Knud Pontoppidan,

 
 
Maritime Contracts Maritime Standards Offshore Oil Pipelines Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction 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: 0.0558 sec (18 req/sec)