So it can be done.

Wilbur Ross-backed Navigator Holdings has become the first shipping initial private offering (IPO) debutant since 2011 to win an underwriter purchase of over-allotment shares with its well-received listing on the New York Stock Exchange.

Navigator has something in common with that 2011 newcomer — gas.

Navigator is the largest owner in its niche of the LPG market, while Golar Gas Partners had earlier won over investors in the LNG sector.

In