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HomeMaritime NewsRegionsAmericasNavios Maritime Midstream IPO prices lower than expected

Navios Maritime Midstream IPO prices lower than expected

Navios Maritime Midstream IPO prices lower than expected
Navios Maritime Midstream Partners has priced its initial public offering (IPO) at a lower than expected $15 per unit.

The MLP, which will own VLCCs, had been expected to price at between $19 to $21 per unit. The sale of 8.1m common units is expected to generate gross proceeds of $121.5m. Underwriters have been granted a 30-day option for 1.251m additional units.

Navios Midstream was expected to begin trading on 13 November.

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