WL Ross-backed Navigator Holdings sets terms for $203 million IPO
Navigator Holdings, which owns and operates the world's
largest fleet of handysize liquefied gas carriers, announced
terms for its IPO on Wednesday. The London, United Kingdom-based
company plans to raise $203 million by offering 11.3 million
shares (26% insider) at a price range of $17 to $19. At the
midpoint of the proposed range, Navigator Holdings would command
a market value of $983 million.
Navigator Holdings, which was founded in 1997 and booked $207 million in sales for the 12 months ended September 30, 2013, plans to list on the NYSE under the symbol NVGS. Navigator Holdings initially filed confidentially on July 18, 2013. Jefferies and Morgan Stanley are the joint bookrunners on the deal.