WL Ross-backed petroleum transporter Diamond S Shipping Group sets terms for $210 million IPO

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Diamond S Shipping Group, a WL Ross-backed petroleum shipping company and one of the largest operators of medium range tankers, announced terms for its IPO on Wednesday. The Greenwich, CT-based company plans to raise $210 million by offering 14 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Diamond S Shipping would command a market value of $710 million. The company, which was founded in 2013 and booked $178 million in sales for the year ended December 31, 2013, plans to list on the NYSE under the symbol DSG. Diamond S Shipping Group initially filed confidentially on September 18, 2013. Jefferies and BofA Merrill Lynch are the joint bookrunners on the deal.



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