Renaissance Capital News

Monaco-based container ship company Navios Maritime Containers has filed with the SEC to raise up to $100 million in an initial public offering. The information of IPO was originally provided by the IPO investment manager Renaissance Capital. The Navios Holdings company run by Angeliki Frangou was founded in 2017 and booked $69 million in sales for the 12 months ended March 31, 2018. According to the company website: "We are a growth-oriented international owner and operator of containerships. We were formed in April 2017 by Navios Holdings, which owns, operates or manages one of the largest shipping fleets by capacity, to take advantage of acquisition and chartering opportunities in the container shipping sector. It plans to list on the Nasdaq but has not disclosed a symbol. J.P.

Prices for Eurobonds from many commodity-exporting emerging markets have fallen sharply this week on fears that the latest metals price reversal will hit the ability to repay debt, especially in some African countries. A major casualty of the metals price plunge is Glencore , whose bonds and shares have tanked to a record low. Almost a third of the mining and trading firm's value was wiped out on Monday alone. The moves underscore the challenges faced by economies and companies exposed to the sector and to China's slowdown. Fears of job cuts by Glencore and other mining firms are weighing on the assets of producing nations, especially Zambia whose kwacha currency plunged 17 percent on Monday to record lows.

IPO investment firm Renaissance Capital said that Diamond S Shipping Group, a provider of seaborne transportation of refined petroleum and is backed by WL Ross, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering. The Greenwich, Connecticut-based company, which was founded in 2013 and booked $178 million in sales for the fiscal year ended December 31, 2013, plans to list on the NYSE under the symbol DSG. Diamond S Shipping Group initially filed confidentially on September 18, 2013. Jefferies and BofA Merrill Lynch are the joint bookrunners on the deal.

Charles G. (Chuck) Raymond, CEO and President of Horizon Lines Inc., said in an interview that the carrier, which completed a initial public offering (IPO) last September, “will generate significant free cash going forward and that will enable us to pay down debt and grow.” Mr. Since going public at $10 a share on September 27, Horizon’s (HRZ) stock has increased as much as 30 per cent and has exceeded the average performance of 2005 IPOs compiled by Renaissance Capital. “It indicates what we are capable of achieving,” said Raymond. While some analysts have urged the carrier to begin replacing some of its older tonnage, Chuck Raymond noted that there are “well-defined plans” for updating the fleet but would not disclose specifics at this time.