19-boxship Poseidon outlines NYSE flotation to raise US$200 million
POSEIDON Containers Holdings Corp is seeking US$200 million through an initial public offering (IPO) and New York Stock Exchange listing, report the American Journal of Transportation.
In a revised registration statement filed on July 21, the George Giouroukos-led company set an IPO pricing range of $14-$16/share. It is hoping to sell 15.38 million shares, with underwriters granted the option to sell an additional 2,307,000 shares.
At the mid-point of the target range, net proceeds after expenses are estimated at $214.3 million to $246.7 million if the underwriter option is exercised in full.
Poseidon currently owns 19 containerships (12 post-panamaxes, two panamaxes and five handymaxes) with an aggregate capacity of 95,717 TEU.