ShippingWatch

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.

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.

Navigator was previously controlled by Lehman Brothers, which following its bankruptcy sold the company's 44 percent stake to Wilbur Ross in 2012. Ross subsequently increased his ownership stake to around 60 percent.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Sovcomflot divests from sanctioned tanker fleet

Russian tanker operator Sovcomflot, which has been subject to sanctions following Russia’s invasion of Ukraine, makes a significant divestment from its tanker fleet. One of the buyers is Eastern Pacific Shipping.

Further reading

Related articles

Latest news

See all jobs