Veteran shipping executive Stamatis Molaris is struggling with his campaign to sell a $236m initial public offering to investors in New York.
Molaris’ Alma Maritime faced uncertain prospects after the IPO did not price Wednesday evening, as promoters had planned.
Sources tell TradeWinds that Alma’s investor book was only partially completed as of Wednesday afternoon and at a level below the company’s target price range of $19 to $21 per share.
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