Mr. Molaris Returns with Alma – A Mixed Fleet and Fixed Dividend Option

Last week, Stamatis Molaris staged his return to the public markets by joining forces with Hans Mende, the President of American Metals & Coal International, and Mass Capital Investments, a private equity firm affiliated with Fortis Bank Nederland, with the filing for an IPO of their new venture, Alma Maritime Limited. Avoiding the historic trend of a pure play in order to provide diversification, Alma will be a mixed fleet with mixed employment including spot, short-term, medium term and long-term charters. The strategy is to take advantage of attractive opportunities presented by current low vessel prices in both the wet and dry sectors with the goal of maximizing shareholder returns through the shipping cycle.
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Written by: carisk | Categories: Freshly Minted, The Week in Review | March 18th, 2010 | Add a Comment

Paying the Bill

On Tuesday, after the market closed, Aegean Marine Petroleum Network announced that it would utilize its recently effective shelf registration to issue 3,906,000 shares of its common stock in an underwritten public offering. The closing price of the shares was $32.45, which would equate to an equity raise of approximately $126 million on a gross basis. The next day, in a market roiled by news of restricted lending in China, the shares traded up $0.23 to $32.72.
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