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Maritime Capital Partners eyes $300m from Singapore IPO

Hong Kong: Maritime Capital Partners is hoping that the boom in the dry bulk market will bring in the bounty when it lists on the Singapore stock exchange in the near future. The company, which owns a fleet of around 14 vessels, is said to be aiming to raise roughly $300m from its initial public offering, reports Reuters. The company kicked off pre-marketing on Monday, and plans to begin bookbuilding on June 20 ahead of pricing in early July in a deal handled by UBS. 

Maritime Capital Partners founder and ceo Mark Harris is expected to use the money raised from the listing to double the company's fleet, replicating his strategy during his time as chief executive of  Pacific Basin.  [03/06/08]

 

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