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Tuesday, August 20, 2019

Maritime Logistics Professional

Posted by July 21, 2015

Poseidon Containers Launches IPO

Poseidon Containers Holdings Corp. announced today the commencement of its initial public offering (IPO) of 15,380,000 common shares. The company said it will grant the underwriters a 30-day option to purchase up to 2,307,000 additional common shares. The estimated price range for the offering is $14 to $16 per common share.
 
The company expects to use the net proceeds of the offering to fund a portion of the contracted purchase price of four containerships that it has agreed to acquire and to fund either (i) a portion of the purchase price of additional high specification or new design fuel-efficient containerships or (ii) the Company’s acquisition of two additional containerships and the newbuilding contracts for the construction of two further containerships. Any amounts not used for such purposes are expected to be used for general corporate purposes.
 
The offering is being made pursuant to a registration statement on Form F-1 (File No. 333-204968), including a prospectus therein, previously filed with the U.S. Securities and Exchange Commission (SEC). The Company has applied to list its common shares on the New York Stock Exchange under the symbol PCON.
 
Morgan Stanley & Co. LLC, Deutsche Bank Securities Inc., UBS Securities LLC, Citigroup Global Markets Inc., Jefferies LLC, and ABN AMRO Securities (USA) LLC are acting as joint book-running managers for the initial public offering. DVB Capital Markets LLC, Credit Agricole Securities (USA) Inc. and UniCredit Capital Markets LLC are acting as co-managers.
Citigroup Global Markets Inc.Deutsche Bank Securities Inc.Jefferies LLC