Moelis plans IPO

Moelis & Company is looking to raise up to $100m from an initial public offering in New York.
Wall Street veteran Ken Moelis founded the firm in 2007.

Wall Street veteran Ken Moelis founded the firm in 2007.

The Manhattan-based investment bank and financial advisor on Tuesday announced plans to list shares on the New York Stock Exchange under the symbol “MC” but failed to shed light on timing.

In a prospectus filed with the US Securities & Exchange Commission the firm pointed out that it generated revenues of $411m and pre-tax income of $73m in 2013, which marked its sixth full year of operations.

The company said it expects to see a spike in merger-and-acquisition activity in a variety of regions and markets in the years ahead and believes demand for its restructuring services will continue to be strong as well.

The prospectus offers a rare glimpse at the inner workings of a firm that has become increasingly active in the shipping industry over the past few years, which may not come as a surprise due to the depth and duration of the downturn.

Moelis, which prides itself in keeping a low profile, has served as an advisor to the likes of Torm, Horizon Lines, NewLead Holdings, Eagle Bulk Shipping, General Maritime Corp and is widely believed to be keen on the continued expansion of its presence within the sector.

Prior to General Maritime’s Chapter 11 overhaul in 2012 the firm seemed to be somewhat of a stranger to shipping but today the mere mention of its name in connection with a cash-strapped operator is enough to ignite concerns that a bankruptcy filing may be on the horizon.

You can read the turnaround specialist's IPO prospectus in full by clicking on the link located under the Related Media section to the right of this article.

Eagle Bulk Shipping
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