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Nordic American Tankers Limited Message Board

  • angelo11755 angelo11755 Apr 3, 2013 9:11 AM Flag

    4/2/2013 Hansson Hunts extra cash

    Hansson hunts extra cash
    Nordic American Tankers is looking to collect almost $110m from Wall Street after unveiling a larger than expected share sale today.
    NAT CEO Herbjorn Hansson.
    New York-listed Nordic revealed yesterday it wanted to bring in around $87m from a follow on offering, with a further $13.05m to come from underwriters.
    When details of the issue hit the strip today, it emerged NAT has placed 9.75m shares on the block at $9.60 each.
    This would bring in $93.6m, with an extra $14.04m potentially entering its bank account if underwriters mop up their allotted stock.
    Herbjorn Hansson, NAT’s CEO, has pledged to take $1.50m of the shares on sale.
    Some of the proceeds from the offer will go towards the owner’s latest addition, the Nordic Future.
    As TradeWinds has reported NAT bought the vessel as the 157,400-dwt Almi Sun for an estimated $55m.
    Andy Pierce in London
    02 April 2013, 14:39 GMT
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    Sentiment: Buy

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