Marine Link
Thursday, January 18, 2018

Public Offering News

GasLog Partners Eyes USD 97mln through IPO

Image: GasLog Partners LP.

US based LNG carrier GasLog Partners is expecting to raise up to USD 97 million by selling shares to finance future fleet expansion. The New York-listed spinoff of LNG shipper GasLog  has announced that it has priced its public offering of 4 million units of its 8.200% Series B Cumulative Redeemable Perpetual Fixed to Floating Rate Preference Units, liquidation preference US$25.00 per unit at a price to the public of US$25.00 per unit. The underwriters have a 30-day option to purchase up to 600,000 additional Series B Preference Units from the Partnership.

Safe Bulkers Announce Pricing of its Shares

Safe Bulkers, Inc., an international provider of marine drybulk transportation services, announced that its public offering of 800,000 shares of its 8% Series B Cumulative Redeemable Perpetual Preferred Shares, par value $0.01 per share, was priced at $25 per share. Concurrently with the public offering, the company has also sold through a private placement, 800,000 series b preferred shares to Chalkoessa Maritime Inc., an entity associated with the company’s chief executive officer, Polys Hajioannou, at the public offering price. The aggregate gross proceeds from the public offering and the private placement, before the underwriting discount and other offering expenses, are expected to be $40,000,000.

Safe Bulkers Announce Public Offering

Safe Bulkers, Inc., an international provider of marine drybulk transpor tation services, announced that it plans to offer its Series B Cumulative Redeemable Perpetual Preferred Shares, par value $0.01 per share, liquidation preference $25.00 per share to the public. In connection with the public offering, the company intends to grant the underwriters a 30-day option to purchase additional shares of the Series B Preferred Shares. Concurrently with the public offering, the company is also selling through a private placement its Series B Preferred Shares to Chalkoessa Maritime Inc., an entity associated with its chief executive officer, Polys Hajioannou, at the public offering price.

Safe Bulkers Close Series B Preferred Shares

Safe Bulkers, Inc., an international provider of marine drybulk transportation services, announced today the closing of its previously announced public offering of 800,000 shares of its 8% Series B Cumulative Redeemable Perpetual Preferred Shares, par value $0.01 per share, liquidation preference $25.00 per share at a price of $25.00 per share. The company also announced the closing of its previously announced private placement of 800,000 shares of its Series B Preferred Shares to Chalkoessa Maritime Inc., an entity associated with its chief executive officer, Polys Hajioannou, at the public offering price. The aggregate gross proceeds from the public offering and the private placement, before the underwriting discount and other offering expenses, were $40,000,000.

Safe Bulkers Announces Public Offering

Athens, Greece, April 11, 2011 – Safe Bulkers, Inc. (the “Company”) (NYSE: SB), an international provider of marine drybulk transportation services, announced today that it plans to offer 5,000,000 shares of its common stock to the public (the “Public Offering”). In connection with the Public Offering, the Company intends to grant the underwriters a 30-day option to purchase up to 750,000 additional shares of common stock. The Company plans to use the net proceeds of the Public Offering for vessel acquisitions…

SafeBulkers Price Public Offering

Bulk carrier: Photo SafeBulkers

Greece's Safe Bulkers, Inc. has set the price of its public offering offering of shares. The Company says it plans to use the net proceeds of the public offering to fund its newbuilding program and for other general corporate purposes, which may include repayment of indebtedness. The public offering of 2,800,000 shares of its 8.00% Series D Cumulative Redeemable Perpetual Preferred Shares, par value $0.01 per share, liquidation preference $25.00 per share (the “Series D Preferred Shares”) was priced at $25.00 per share.

Safe Bulkers' Stock Offering May Fund New-buildings

Bulk Carrier: Photo courtesy of Safe Bulkers

Greek dry-bulk ship owners Safe Bulkers, Inc. plans to offer 5,000,000 shares of its common stock to the public. The Company plans to use the net proceeds of the Public Offering and Private Placement for vessel acquisitions, capital expenditures and for other general corporate purposes, which may include repayment of indebtedness. In connection with the Public Offering, the Company intends to grant the underwriters a 30-day option to purchase up to 750,000 additional shares of Common Stock.

GasLog Partners closes public offering

Photo Gaslog

GasLog Partners LP today announced the closing of its public offering of 3,750,000 common units representing limited partner interests (the "common units"). The public offering price was $20.50 per common unit. The net proceeds from the offering, after deducting underwriting discounts and other offering expenses, and including approximately $1.57 million received from GasLog Ltd. (NYSE: GLOG) to maintain its 2.0% general partner interest in the Partnership, were approximately $77.06 million.

Scorpio Bulkers Raise Scope of IPO

Image courtesy of Scorpio Bulkers

Scorpio Bulkers Inc. say it has increased the size of its public offering from the initially announced 15,500,000 common shares to 31,300,000 common shares for gross proceeds of $305,175,000. The Company has granted the underwriters a 30-day option to purchase up to 4,695,000 additional common shares, and they say they plan to use all of the net proceeds of this offering to fund newbuilding vessel capital expenditures. Scorpio Bulkers has contracted and agreed to purchase 28 Ultramax…

NAO Exercises Option to Purchase Shares

Nordic American Offshore Ltd. additional 882,352 common shares. The sale of these common shares isexpected to close on June 26, 2014. After the exercise of the overallotment option, there are 23,431,370 shares in issue in NAO. The total capital inflow into NAO from the Initial Public Offering and the exercise of the overallotment is in total about $100m. The company intends to use the net proceeds of this offering for acquisitions and general corporate purposes, including working capital. Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC and DNB Markets, Inc. are acting as joint book-running managers. In addition, Global Hunter Securities, LLC is acting as a co-manager for the initial public offering.

Scorpio Bulkers IPO to Fund Multi-Newbuilding Orders

Photo courtesy of Scorpio Bulkers

The bulk ship owners announce its initial public offering of 15,500,000 common shares, granting the underwriters a 30-day option to purchase up to 2,325,000 additional common shares. Scorpio say that the net proceeds of this public offering are expected to be used to fund newbuilding vessel capital expenditures, including capital expenditures related to the Company's initial fleet, and for general corporate purposes, including working capital. They add that on December 2, 2013…

American Superconductor Files Public Offering Registration Statement

American Superconductor Corporation (AMSC), has filed a registration statement with the Securities and Exchange Commission for a proposed public offering of 4,000,000 shares of its common stock. The lead underwriter for the offering will be Needham & Company, Inc. The offering will include an option for the underwriters to purchase up to an additional 600,000 shares to cover over-allotments, if any.

Shipowner Exmar Shelves IPO ... for Now

EXMAR (Euronext: EXM) said that due to unfavorable current capital market conditions, it is delaying the launch of the contemplated initial public offering (IPO) of common units in the United States of EXMAR ENERGY PARTNERS LP (the MLP). In a release, EXMAR said it will continue to evaluate the most appropriate timing for the initial public offering as market conditions develop.

Hyundai Heavy to Raise $1.2B Via Rights Offering

Photo: Hyundai Heavy Industries

South Korea's Hyundai Heavy Industries (HHI)  plans to raise about 1.29 trillion won ($1.2 billion) in an initial public offering (IPO)  and list its refining subsidiary Hyundai Oilbank. The report quoted the world’s second-biggest shipbuilder stating that Hyundai Robotics, the group’s holding company, has decided to list refining subsidiary Hyundai Oilbank in an IPO in the second half of 2018. The group also plans to issue 12.5 million rights shares, worth about 1.3 trillion won ($1.21 billion), by March.

HHI Group to List Oilbank

File Image (CREDIT: AdobeStock / (c) Burnel11)

IPO seen improving group's financial soundness, transparency; Group sees shipbuilding recovery starting 2019. South Korea's Hyundai Heavy Industries Group plans to list its refining arm Hyundai Oilbank in an IPO in 2018 and raise about $1.2 billion via a share issue by shipbuilder Hyundai Heavy Industries, in a move to bolster its finances. Hyundai Heavy Industries, the flagship company of South Korea's ninth-largest conglomerate, said on Tuesday that Hyundai Robotics, the group's holding company…

Diana Shipping Announces Public Offering of Common Shares

Diana Shipping Inc. announced that it is commencing a public offering of 10,000,000 primary shares of its common stock pursuant to an effective shelf registration statement. Wachovia Securities and JPMorgan will act as joint book running managers. The Company expects to grant the underwriters an option to purchase an additional 1,500,000 common shares to cover any over- allotments, exercisable within 30 days, and expects to price the offering in due course.

USMR Files Registration Statement For Initial Public Offering

United States Marine Repair, Inc. (USMR) announced that it filed a registration statement with the Securities and Exchange Commission for an initial public offering of its common stock. The shares will be offered by an underwriting group led by Lehman Brothers Inc., Credit Suisse First Boston Corporation, Bear, Stearns & Co. Inc. and Credit Lyonnais Securities (USA) Inc.

Bureau Veritas Launches Initial Public Offering

Bureau Veritas, the world’s second largest group offering conformity assessment services in the areas of quality, health and safety, environment and social responsibility (QHSE) announces the launch of its initial public offering on Eurolist by EuronextTM Paris (Compartment A). The main objective of the initial public offering is to support the growth strategy of Bureau Veritas. The shares will be distributed in the framework of an offer (the "Global Offer") comprising of a public offering to retail investors in France (the "French Public Offering") and an international offering to institutional investors in France and in certain countries, including in the United States under Rule 144A (the "International Offering").

Intelsat Proposes Public Offering of Common Shares

Intelsat Global Holdings S.A. announced that it has commenced the distribution of preliminary prospectuses in anticipation of its proposed initial public offering of 21,739,130 common shares and proposed concurrent public offering of 3,000,000 Series A mandatory convertible junior non-voting preferred shares (the "Series A preferred shares"). The offerings are being made pursuant to a registration statement on Form F-1 filed with the Securities and Exchange Commission. The company has granted the underwriters in the initial public offering of common shares a 30-day option to purchase up to an additional 3,260,869 common shares. The company has granted the underwriters in the public offering of Series A preferred shares a 30-day option to purchase up to an additional 450…

EMAS Offshore Launches Singapore Listing

EMAS Offshore boosts profile amongst international investment community by providing Asian platform for growth;  Singapore public offer opens at 6.00 p.m. today and closes at 12.00  noon on 2 Oct 2014. EMAS Offshore Limited (“EMAS Offshore”, or the “Group”), formerly known as EOC Limited (“EOC”), is pleased to announce the launch of its public offering of shares following the registration of its prospectus (the “Prospectus”) with the Monetary Authority of Singapore (“MAS”), in…

NAT Closes Public Offering

Photo: NAT

Nordic American Tankers Limited announced today that, in connection with its previously announced public offering of 12,000,000 common shares at a public offering price of $8.62 per share, the underwriters exercised in full the option granted to them by the company and purchased an additional 1,800,000 common shares on the same terms on which the 12,000,000 common shares were sold to the underwriters. The company also announced that the closing of the follow-on offering and the closing of the option to purchase additional shares took place simultaneously today.

Cruise IPO Heavily Oversubscribed

A $16.7 million initial public offering by Cyprus' Louis Cruise Lines was close to 30 times oversubscribed, a company spokesman said.

Hyundai Heavy Plans IPO In August

Hyundai Heavy Industries Co. reportedly decided on an initial public offering in August to list its shares on the Korea Stock Exchange.

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