Knud Larsen Latest in IPO Market

Despite the lackluster performance of the Danish stockmarket, recent IPOs have attracted good support. The forthcoming share issue of Knud I Larsen (SIF) will, therefore, be watched with keen interest by both Danish and international investors. In some respects, it represents a new landmark in the Danish stockmarket and, because of the unusual circumstances, may not necessarily be regarded as a litmus test for subsequent offerings. Larsen is the first private shipping concern to apply for a public listing in some time, and its IPO will coincide with its stock exchange debut.

The Copenhagen based company aims to raise Kr112.5m ($16.9m) through the issue of 25,000 shares at Kr4,500 each. Director Finn Larsen told Marine Money “The proceeds of the issue will be used to develop our business in container vessels and small product and chemical tankers. The share issue and public listing have been planned for a long time, and we believe that it is now the right time to go the stockmarket.”

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