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Gener8 hopes to raise USD 285 million with IPO

Tanker giant Gener8 Maritime expects to raise upwards of USD 285 million through the IPO that the company plans to perform in New York this week.

Photo: Colourbox

Private equity fund-owned tanker carrier Gene8 Maritime will complete an IPO in New York this week, a move that will raise millions of dollars for the carrier's coffers.

In a prospect published ahead of the listing, Gener8 Maritime states that the company expects to sell 15 million shares on the stock exchange at a value of USD 17-19 per share. At the lowest rate, this means that Gener8 Maritime could raise USD 255 million through the IPO, while the highest rate will bring USD 285 million to the company.

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