Marine Link
Monday, December 5, 2016

Diana Shipping joins IPO Shipping Fleet

March 11, 2005

Diana Shipping on Tuesday filed to sell 12.375 million shares at $15-$17 each in a bid to raise up to $210 million in its initial public offering.

It's the latest in a series of shipping companies to float shares in the U.S. market.

Based in the Marshall Islands and Athens, Greece, Diana Shipping (DSX) is going public via underwriter Bear Stearns.

The operator of dry ships that transport iron ore, grain and coal plans to trade on the New York Stock Exchange under the symbol DSX.

On Feb. 3, DryShips (DRYS, Trade) shares rose 12 percent over their $18 offering price in their debut in Wall Street's most recent shipping IPO. The stock is trading near $23.

IPOs from Arlington Tankers (DRYS, Trade), Top Tankers (TOPT, Trade) and Hornbeck Offshore (HOS, Trade) have also kicked off in the past year.

In November, TK LNG Partners, a unit of Teekey Shipping (TK, Trade), filed its initial public offering of 5.5 million common units.

The company plans to trade on the New York Stock Exchange under the symbol TGP.

The company has yet to set an estimated price range in the deal, but in an earlier filing, it said it plans to raise up to $133 million in the IPO.

SSA Global on Tuesday said it plans to offer 14.3 million shares at $13-$15 each in a bid to raise up to $215 million in its initial public offering.



 
Maritime Reporter Magazine Cover Nov 2016 - Workboat Edition

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News