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.