Firms in Fed’s Beige Book Fret Over Any Lengthy Baltimore Port Closure
(Bloomberg) — The closure of one of the East Coast’s busiest ports after the collapse of Baltimore’s Francis Scott Key Bridge has so far not led to broad price increases,...
“As part of the IPO, Avance Gas will raise new capital to pursue consolidation opportunities, and in addition, the three major shareholders are considering selling shares in order to facilitate sufficient share liquidity,” Stolt-Nielsen Limited said.
Avance Gas was formed by a merger of shipping assets from Stolt-Nielsen, Frontline 2012 and Sungas Holdings, and the fleet consists of six very large gas carriers (VLGC), with eight further new-buildings on order.
The Nordic region has seen the announcement of several IPOs in recent weeks, including by Danish outsourcing firm ISS, Swedish property firm Hemfosa, Norwegian shipping firm Tanker Investments and Danish shipping fuel supplier OW Bunker.
Skandinaviska Enskilda Banken (SEB) will be global coordinator of the Avance IPO, while DNB Markets, Pareto Securities and SEB have been appointed as joint bookrunners. Danske Bank, Nordea Markets and Swedbank have been retained as co-managers.
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