Alpha Diallo
0
All posts from Alpha Diallo
Alpha Diallo in Alpha Diallo,

IPO Debut-Navigator Holdings Ltd

 (Image source 4-trader.com)

Navigator Holdings Ltd will begin trading today on the NYSE under the ticker NVGS after pricing its initial public offering at $19 per share. The company plans to issue 12 million shares to the public, which is expected to raise about $228 million. Navigator is carrier of liquefied natural gases. In addition, the company has a fleet of tankers that transports liquefied gases internationally and domestically for a host of suitors. Navigator is controlled by the bankruptcy billionaire specialist Wilbur Ross. Financially for the last nine months, both net income and operating revenue saw double digit increases.  In recent years, there has been an increase in the demand and usage of natural gas across broad spectrums, which bolds well for transportation business of Navigator.