Navios Midstream Launches IPO

Navios Midstream Launches IPO

Navios Maritime Midstream Partners L.P., a recently formed wholly-owned subsidiary of tanker owner Navios Maritime Acquisition Corporation, has commenced an initial public offering of 8,100,000 common units representing limited partner interests in Navios Midstream.

Navios Midstream expects to grant the underwriters a 30-day option to purchase up to an additional 1,215,000 common units.

The IPO price is currently expected to be between USD 19.00 and USD 21.00 per common unit.

The common units have been cleared for listing on the New York Stock Exchange under the symbol “NAP.”

According to Navios Maritime, the proceeds from the offering will be used primarily to fund a portion of the purchase price of the capital stock in Navios Acquisition’s subsidiaries that own vessels intended for Navios Midstream’s initial fleet of very large crude carriers (VLCCs).

Merrill Lynch, Pierce, Fenner & Smith Incorporated, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC will act as joint book-running managers and representatives of the underwriters for the offering, Navios Maritime said.

Press Release, Image: IMS

Share this article

Follow World Maritime News

In Depth>


<< Jan 2020 >>
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

The 9th Annual Event Green Shiptech China Congress 2020

The 9th Annual Event- Green Shiptech China Congress 2020 will be held on next…

read more >

Maritime Reconnaissance and Surveillance Technology

As varied threats in the Mediterranean Sea continue to proliferate, the need to advance…

read more >


Forum you will find out from the regulators, government bodies and major ports’ representatives what the near…

read more >

7th Annual Arctic Exchange

Every year the Exchange invites delegates from across the globe to come together to listen to key senior management teams…

read more >