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Crude Carriers files for IPO up to $310.5 mln |
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Wednesday, 03 March 2010 |
 Shipping company Crude Carriers Corp filed for an initial public offering worth up to $310.5 million. Crude Carriers in a regulatory filing with the U.S. Securities and Exchange Commission said it plans to sell 13.5 million shares for $19 to $21 each.
The company said it expects to net about $251.4 million in proceeds from
the IPO, which it will use to purchase the three ships. Crude Carriers
plans to buy and operate a fleet of crude tankers that will transport
crude and fuel oil along worldwide shipping routes.
The underwriters are being led by UBS Investment Bank, Bank of America
Merrill Lynch and Wells Fargo Securities. They have the option to
purchase an additional 2.025 million shares.
The company plans to list on the New York Stock Exchange under the
symbol "CRU."
Source: Reuters
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