Wilbur Ross cancels tank carrier IPO

American major investor Wilbur Ross defends the decision to cancel an initial public offering (IPO) in New York, pointing to a weak stock market climate.

Earlier this week, major American investor and equity fund owner Wilbur Ross canceled a planned IPO at the New York Stock Exchange for product tank carrier Diamond S. Shipping.

“Diamond S does not need the money and will not issue stock at the relatively unfavorable price created by the present stock market environment,” says Wilbur Ross, Chairman of Diamond S. Shipping, in an email to several news media.

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