Latvian Shipping Company plans IPO

Latvian Shipping Company plans IPO

Latvian Shipping Company (LSC) will push ahead with an initial public offering next year in a bid to raise EUR80m.

“The IPO process is planned to be carried out in the first half of 2016. The newly acquired capital will be used to pay down existing shipping debts due in 2016 and 2017,” the company said in a release.

LSC is already listed in Riga. The 75-year-old firm has a fleet of some 20 vessels totaling near to 1m dwt.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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