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Ardmore Shipping files for a $160 million IPO
By: Renaissance Capital
Ardmore Shipping, which provides seaborne transportation of petroleum products and chemicals worldwide, filed on Friday with the SEC to raise up to $160 million in an initial public offering. The Cork, Ireland-based company, which was founded in 2010 and booked $26 million in sales for the 12 months ended March 31, 2013, plans to list on the NYSE under the symbol ASC. Ardmore Shipping initially filed confidentially on May 24, 2013. Morgan Stanley, Jefferies, and Clarkson Capital Markets are the joint bookrunners on the deal. No pricing terms were disclosed.