Hong Kong shipping company Intercont IPO at $7
Hong Kong shipping company Intercont IPO at $7
Hong Kong shipping company Intercont prices downsized US IPO at $7, the low end of the range
Intercont Limited, which provides maritime shipping and seaborn pulping services, raised $11 million by offering 1.5 million shares at $7, the low end of the range of $7 to $9. The company offered 0.4 million fewer shares than anticipated.
Intercont operates a global maritime shipping business through a range of subsidiaries which are divided into two business segments: time chartering and vessel management services. Its fleet currently consists of one self-owned vessel and three leased vessels, with a total cargo carrying capacity of 217,191 dwt. Intercont plans to expand its operations by launching a seaborne pulping business through its Singapore subsidiary, Openwindow, by the 1Q25, utilizing both self-owned and leased factory ships.
Intercont Limited plans to list on the Nasdaq under the symbol NCT. Kingswood Capital Markets acted as sole bookrunner on the deal.
Intercont Limited, which provides maritime shipping and seaborn pulping services, raised $11 million by offering 1.5 million shares at $7, the low end of the range of $7 to $9. The company offered 0.4 million fewer shares than anticipated.
Intercont operates a global maritime shipping business through a range of subsidiaries which are divided into two business segments: time chartering and vessel management services. Its fleet currently consists of one self-owned vessel and three leased vessels, with a total cargo carrying capacity of 217,191 dwt. Intercont plans to expand its operations by launching a seaborne pulping business through its Singapore subsidiary, Openwindow, by the 1Q25, utilizing both self-owned and leased factory ships.
Intercont Limited plans to list on the Nasdaq under the symbol NCT. Kingswood Capital Markets acted as sole bookrunner on the deal.