Its IPO plans were unveiled at a time when crude tankers are in vogue with investors but a number of other IPOs and equity raises are in the system.
Erik Nikolai Stavseth of Arctic Securities says the current Principal fleet is worth around $635m.
Principal Maritime’s attempts to take a suezmax tanker fleet to Wall Street has received a positive welcome but analysts say the Apollo backed venture and other IPO aspirants face a tougher task today.
Its IPO plans were unveiled at a time when crude tankers are in vogue with investors but a number of other IPOs and equity raises are in the system.
Erik Nikolai Stavseth of Arctic Securities says the current Principal fleet is worth around $635m.