It priced the IPO at$14 per share – below the bottom end of its target range of $15 to $17 a pieceoutlined in its most recent prospectus.
However,the lower pricing level looks unlikely to surprise many following comments fromanalysts in advance of the listing.
Manyobservers were questioning Ardmore’s target range after learning that rivalScorpio Tankers was offloading stock tied to its latest follow-on equityoffering at $9.50.
SinceArdmore
