Monaco based dry bulk shipping company, GoodBulk, that launched plans for an estimated $140 million initial public offering in 2018 won’t be going public anytime soon, reports Nasdaq.
GoodBulk pulls off
GoodBulk, an international drybulk shipping company with a fleet of 27 vessels, officially withdrew its plans for a US initial public offering on 31st December.
It had last filed in June 2018 to raise $140 million by offering 8.5 million shares at a price range of $15.50 to $17.50, targeting a market cap of $628 million, but postponed the offering.
Joint bookrunners
GoodBulk was founded in 2016 and booked $89 million in revenue for the 12 months ended March 31, 2018.
It had planned to list on the Nasdaq under the symbol GBLK. Morgan Stanley and Credit Suisse were set to be the joint bookrunners on the deal.
Did you subscribe to our daily newsletter?
It’s Free! Click here to Subscribe!
Source: Nasdaq
