Euronav NV IPO in the US
Euronav NV announced today the upsizing and pricing of its initial public offering in the United States. The size of the offering has been increased from the initially announced 13,550,000 ordinary shares to 16,260,000 ordinary shares at an issue price per share of USD 12.25 for gross base proceeds of USD 199,185,000. The Company has granted the underwriters a 30-day option to purchase up to an additional 2,439,000 ordinary shares. The Company’s ordinary shares offered in the United States are expected to commence trading on the New York Stock Exchange (the “NYSE”) today under the ticker symbol “EURN.” This offering is expected to close on January 28, 2015, subject to the satisfaction of customary closing conditions.
Euronav Announces IPO in the US
Euronav NV announced the commencement of its underwritten initial public offering in the United States of 13,550,000 ordinary shares. The company will grant the underwriters a 30-day option to purchase additional ordinary shares representing up to 15% of the offered shares. On January 19, 2015 the closing price of the company’s ordinary shares on Euronext Brussels was $12.94 per share (based upon the Bloomberg Composite Rate of EUR 0.8604 per $1.00 USD in effect on that date). The company has been approved to list its ordinary shares on the New York Stock Exchange (NYSE) under the symbol EURN.
Market Show Confidence in Baltic Trading's Public Offering
Baltic Trading Limited has successfully completed its previously announced public offering, issuing 12,650,000 new shares of common stock, which included the exercise in full of the underwriters' option to purchase up to 1,650,000 shares of common stock. Gross proceeds of the offering were approximately $58.2 million. Baltic Trading intends to use the net proceeds from the offering for future vessel acquisitions or, to the extent it does not so use them, for working capital and general corporate purposes. Jefferies LLC and Morgan Stanley & Co. LLC acted as joint book-running managers for the offering, and DVB Capital Markets LLC, Cowen and Company, LLC, and Clarkson Capital Markets LLC acted as co-managers for the offering.
