Ed Buttery-led Taylor Maritime Investments today confirmed Splash exclusive news from earlier this month that the company will proceed with an initial public offering (IPO) on the London Stock Exchange, with plans to offer 250m shares at an initial issue price of $1 per ordinary share.
The company was incorporated in Guernsey on March 31 this year as an internally managed investment company and will invest in a diversified portfolio of vessels which will primarily be secondhand handysize and supramax bulk carriers.
Buttery, the son of the Pacific Basin co-founder Chris Buttery, formed Taylor Maritime in 2014, building up a fleet of more than 20 handysize and supramax ships.
Nicholas Lykiardopulo, chairman of Taylor Maritime Investments and a long-term associate of the Buttery family, said: “Taylor Maritime Investments Limited will offer investors an excellent opportunity to invest in a diverse portfolio of handysize and supramax dry bulk ships which will deliver attractive, immediate cash flows and the potential for capital growth at a time when the fundamentals for the asset class are compelling.”
The Taylor Maritime pitch to investors details today’s robust demand for dry bulk commodities as well as the all-time low supply of newbuild bulkers as a percentage of the existing fleet.
Ed Buttery, CEO of Taylor Maritime Investments, said: “Our internal management structure ensures we are fully aligned with investors with no external management, performance or acquisition fees, whilst our long-term ungeared capital structure will support sustainable returns for investors over the long term.”