22/11/2013at 09:54

Wilbur Ross' Navigator off to flying start

Shares in LPG carrier Navigator Holdings increased 11 percent at the company's stock debut on Thursday in New York.

BY OLE ANDERSEN

Navigator Holdings, which is controlled by equity fund owner Wilbur Ross, soared a whopping 11 percent at the LPG carrier's launch on the New York Stock Exchange on Thursday, which puts the company's market value at approx. USD 1.1 billion, according to Reuters. The sale of 12 million shares raised USD 228 million.

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