Container shipper, Costamare has announced that it has filed for an initial public offering to raise up to US$260 million.
The company, which expects the initial public offering price to be between US$15.00 and US$17.00 per share, said it plans to issue about 13.3 million shares of common stock.
Costamare's common stock has been approved for listing on the New York Stock Exchange under the symbol "CMRE" according to a filing with the Securities and Exchange Commission.
Morgan Stanley and Merrill Lynch will act as joint book-running managers and representatives of the underwriters, who will include Dahlman Rose and Company LLC, RBS Securities Inc. and Wells Fargo Securities, LLC.
The shipping company estimates to get net proceeds from offering of about US$195.9 million, which it plans to use for vessel acquisitions and for general corporate purposes.
