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Miserable Wall Street IPO for new tanker company

The first day on the New York Stock Exchange was not a great success for the next big tanker company, Gener8 Maritime. The share price fell by 6.4 percent on the first day after being down by more than 8 percent.

NEW YORK

What was supposed to be a celebration turned into the opposite for tanker company Gener8 Maritime, a merger of General Maritime and Navig8 Crude Tankers. At least judging by the price development on the stock exchange.

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