GA Holdings prices sale of 49% of its stake in Ardmore Shipping

GA Holdings prices sale of 49% of its stake in Ardmore Shipping

Investment company GA Holdings is to sell 4m shares or around 49% of its stake in NYSE-listed Ardmore Shipping in an underwritten public offering priced at $13.25 per share.

GA Holdings is part of private equity firm Greenbriar Equity Group and is Ardmore’s largest shareholder.

Morgan Stanley & Co and Clarksons Platou Securities, the underwriters of the offering, have a 30-day offering to buy an additional 600,000 shares of Ardmore’s common stock.

The sale of the 4m shares could raise $53m or up to $69.95m if the underwriters exercise their purchase options.

Ardmore’s stock is currently trading at around $14.77 per share at the time of writing.

 

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.

Related Posts