Stalwart Tankers Postpones U.S. IPO

Posted by Greg Trauthwein
Thursday, April 10, 2014
BSS Force (Image: Stalwart Tankers)
Greece-based chemical transportation company Stalwart Tankers Inc has postponed its U.S. IPO plans due to "market conditions," an underwriter told Reuters.
 
The company filed with U.S. regulators in February to raise up to $100 million in an IPO of its common stock.
 
Stalwart Tankers later said it expected to price its IPO of 12.5 million common shares at between $11 and $13 per share.
 
The decision to postpone the IPO comes on the heels of Greece returning to the bond market on Thursday, with investors hungry for high returns scooping up its debt in a 3-billion-euro ($4.16-billion) deal that could mark the beginning of the end of its bailout.
 
Stalwart Tankers, which operates a fleet of more than 1,000 mid-size stainless-steel tankers, listed Jefferies LLC, Wells Fargo Securities and Global Hunter Securities as lead underwriters to its offering.
 
The company said it intended to list on the New York Stock Exchange under the symbol "STST".
 
 
(Reporting by Avik Das in Bangalore; Simon Jennings)
Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Major Ivorian Cocoa Buyers Boycott Local Exporters Scheme

Major cocoa buyers are boycotting a scheme in Ivory Coast aimed at guaranteeing local firms a share of the lucrative export market, arguing that these players lack

Matson Pumps $30 Million into Alaska Operations

Ocean cargo shipper Matson, Inc. said it is moving quickly to fund improvements in its new Alaska operations following its May 29 acquisition of Horizon Lines' Alaska services.

General Dynamics Tops Q2 Estimates

General Dynamics Corp, a maker of ships, tanks and business jets, reported higher-than-expected quarterly earnings and revenues on Wednesday, and sharply raised its outlook for full-year profit.

News

Two New Hybrid RTGs for Port of Shanghai

Corvus Energy informs it will provide the battery systems for an additional two hybrid solutions for new rubber-tired gantry cranes (RTGs) that will be produced

USCG Investigates Oil Slick off California Coast

The U.S. Coast Guard was investigating a large oil sheen off the California coast west of Santa Barbara on Wednesday, a spokeswoman for the agency said.   The slick,

Puget Sound Reports Container Volume Growth

Less congestion and efficient cargo movement helped international container volumes through the Puget Sound gateway improve 14 percent in June compared to June 2014, the port reported.

 
 
Maritime Contracts Maritime Security Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Repair Ship Simulators
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: 0.2011 sec (5 req/sec)