Exmar delays launch of IPO

Shipping company, Exmar cited 'unfavourable market conditions' as the reason for the delay of its contemplated initial public offering of an LNG master limited partnership
Exmar delays launch of IPO

Maritime company, Exmar NV has announced that it will delay the launch of its contemplated initial public offering in the US.

The company, which initially filed an IPO registration statement with the US Securities and Exchange Commission (SEC) in September 2014, said that the decision to hold the IPO of an LNG master limited partnership (MLP) was down to “unfavourable current capital market conditions”.

Price and the number of units to be offered were not disclosed, but the company was expected to trader under the ticker ‘XMLP’.

Citigroup, BofA Merrill Lynch and JP Morgan are joint book-running managers for the proposed offering.

In a statement the company said: “Exmar will continue to evaluate the most appropriate timing for the initial public offering as market conditions develop.” 

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by Laura Stackhouse

readmt.com Editor

Laura Stackhouse is the Web Editor of readmt.com, an official publication of the International Marine Purchasing Association (IMPA). To discuss news, features or contributing to readmt.com please get in touch.

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