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Norton Rose Fulbright advises Taylor Maritime Investments Limited on its $253 million IPO
Global law firm Norton Rose Fulbright has advised Taylor Maritime Investments Limited (TMI) on its initial public offering, related seed asset acquisitions of Handysize and Supramax vessels and financing.
This is the first shipping IPO for several years and involved simultaneous acquisition of 17 vessels from multiple vendors. TMI raised $160million in a placing and offer for subscription and issued approximately 93 million shares in connection with the acquisitions. Its market capitalisation on Admission was $253 million.
Richard Sheen, London-based corporate partner and head of funds and asset management who led on the deal, commented: