TheGlobe.com Inc (TGLO): Direct listing is gaining traction. "...

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tweedking

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Thursday, 05/23/2019 11:54:46 AM

Thursday, May 23, 2019 11:54:46 AM

Direct listing is gaining traction.

"Owners have instead opted for the non-IPO direct listing route. Those taking this path include TORM Shipping (NASDAQ: TRMD), a Copenhagen-listed product tanker owner that began trading in the U.S. in December 2017; South Africa’s Grindrod Shipping (NASDAQ: GRIN), which obtained a U.S. listing in June 2018; Navios Containers (NASDAQ: NMCI), which listed directly in December 2018 after its IPO plan flopped; Castor Maritime (NASDAQ: CTRM), a tiny Greek company that listed in February on NASDAQ with a fleet comprised of a single 15-year-old bulker; and the most significant direct lister to date – Diamond S Shipping (NYSE: DSSI) – which unsuccessfully pursued an IPO in 2014, listed directly in March, and is now one of the largest tanker owners in the U.S. public market."

https://www.hellenicshippingnews.com/more-ship-owners-eye-wall-street-via-direct-listings-not-ipos//url