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Gram Car Carriers returns for second try at Oslo listing

Norway’s Gram Car Carriers has revived plans to list in Oslo, two months after pulling a possible $110m initial public offering.

The world’s third-largest tonnage provider within the pure car truck carrier (PCTC) segment is now looking to raise around $121m through an equity private placement, consisting of a $115.6m primary offering and an over-allotment offering of up to $5.4m. 

The move includes the acquisition of two vessels from German shipowner F. Laeisz in exchange for new shares in the private placement for an amount equal to up to approximately $61.6m. The deal will give F. Laeisz a board seat in Gram Car Carriers.

In addition to F. Laeisz, five cornerstone investors have undertaken to subscribe for and will be allocated offer shares totalling $37.4m. Specifically, these include AL Maritime Holdings with $12m, J. Lauritzen with $10m, KLP Alfa Global Energy, and AS Clipper with $6m each, as well as Surfside Holding with $3.4m. Certain members of the company, as well as some existing shareholders, have also collectively pre-committed to subscribe for around $6.75m.

Gram Car Carriers has a fleet of 18 vessels, including the two vessels from F. Laeisz, spread across the distribution, mid-size and panamax segments.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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