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Ardmore Shipping prices IPO at $14, below the range
By: Renaissance Capital
Ardmore Shipping, which provides seaborne transportation of refined petroleum products and chemicals worldwide, raised $140 million by offering 10 million shares at $14, below the range of $15 to $17. Ardmore Shipping plans to list on the NYSE under the symbol ASC. Morgan Stanley, Jefferies & Co. and Clarkson Capital Markets acted as lead managers on the deal.