Eletson Corp rules out IPO of LPG fleet

Greek owner Eletson Corp said in a surprise statement that it has no plans to launch an initial public offering (IPO) of its LPG fleet.

“As far as Eletson Gas is concerned, there is no IPO planned or on the horizon,” company chief financial officer Peter Kanelos told TradeWinds.

The Greek owner has substantially expanded its gas-ship fleet, especially after private-equity giant Blackstone last year took a 40% stake in LPG subsidiary Eletson Gas.

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