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June 2, 2014
07:21 EDTNAO, NATNordic American Offshore files 5.88M share IPO, price range $16-$18
Nordic American Offshore (NAO) announced the commencement of its initial public offering of 5,882,352 common shares. Since November 2013, NAO has been listed on the Norwegian OTC market. The offering price is expected to be between $16.00 and $18.00 per share. Nordic American Tanker (NAT) owns 26% of Nordic American Offshore. Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC and DNB Markets, Inc. are acting as joint book-running managers and Global Hunter Securities, LLC is acting as a co-manager for the initial public offering.
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