NAT Drops 10%

Posted by Greg Trauthwein
Friday, November 22, 2013

Prices 8.13 Mln Public Share Sale at Discounted $8/Share
 

Nordic American Tanker (NAT) opened this morning on the stock exchange down more than 10% (Down $0.85 to $8.025/share in late morning trading) after saying it has priced a 8.13 million public offering at $8 per share, an almost 10% discount to Thursday's closing price.
 

The company has granted the underwriters a 30-day option to purchase up to an additional 1,218,750 common shares. The company expects to close the sale of the common shares on November 27, 2013, subject to customary closing conditions, as reported ealier this morning on MarineLink.com

http://www.marinelink.com/news/announces-american361311.aspx


In making the offring announcment, the tanker company said CEO Herbjoern Hansson is expected to buy 250,000 shares in the offering at the same terms as other investors.


The company said it plans to use proceeds to finance its investment in Nordic American Offshore Ltd. NAO is an independent company from Nordic American Tankers (NAT) that will initially own six platform supply vessels built in 2012 and 2013 by the Ulstein Group in Norway.

Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

FPSO Petrojarl Knarr Delivered to Norway

Three tugs of Fairmount Marine have towed the brand new FPSO Petrojarl Knarr from South Korea to Norway in just 61 days. Petrojarl Knarr, one of world’s largest

Source: Siemens Offering $6.1 bln for Dresser Rand

Germany's Siemens plans to offer more than $6.1 billion, or $80 per share, for U.S. compressor and turbine maker Dresser-Rand, Germany's Manager Magazin said on Friday.

Exxon, Rosneft May Halt Arctic Operations

Russia's natural resources minister said on Friday that it was highly likely that U.S. oil major Exxon Mobil Corp and its Russian counterpart Rosneft had halted

Tanker Trends

Ingram Barge Order 20 Tank Barges for 2015

Ingram Barge Company say they will be building 20 tank barges in 2015 to meet growing demand for chemical shipments. While most of the company’s recent tank barges have come through acquisitions,

Finland Grants Support to Three Small LNG Terminals

The Finnish government granted 65.2 million euros (84.22 million US dollar) in subsidies to build three small liquefied natural gas (LNG) terminals to cut on use

Senator Says 2015 Could Be Time for US Oil Export Bill

The top supporter in the U.S. Congress for reversing the 40-year ban on crude oil exports, Senator Lisa Murkowski from Alaska, said next year could be the time for a bill on lifting the restriction.

Finance

Source: Siemens Offering $6.1 bln for Dresser Rand

Germany's Siemens plans to offer more than $6.1 billion, or $80 per share, for U.S. compressor and turbine maker Dresser-Rand, Germany's Manager Magazin said on Friday.

Exxon, Rosneft May Halt Arctic Operations

Russia's natural resources minister said on Friday that it was highly likely that U.S. oil major Exxon Mobil Corp and its Russian counterpart Rosneft had halted

Leading Shipping Equity Analyst Joins Clarkson Capital Markets

Clarkson Capital Markets, the investment banking arm of shipping services group Clarkson PLC,  says it has enhanced its equity research coverage with the appointment

 
 
Maritime Contracts Maritime Security Naval Architecture Offshore Oil Pod Propulsion Port Authority Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1121 sec (9 req/sec)