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Ocean Tankers Holdings IPO a first for Cyprus.
(From Lloyds List)
Byline: Nigel Lowry in Athens
INVESTORS in Cyprus will next week be briefed on Ocean Tankers Holdings Public Company, a small tanker operator aiming to raise about $14m from what will be the island's first public flotation by an oceangoing shipping company.
Ocean Tankers not to be confused with a similarly named tanker company in Singapore that operates about 70 tankers plans to sell 24m shares at a price of $0.55 each, founder and chairman Michael Ioannides told Lloyd's List yesterday.
Led by the Bank of Cyprus investment banking subsidiary Cisco, the initial public offering is to be held between August 27 and September …
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