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Friday, October 06, 2006

Danaos IPO Priced

Danaos Corp (DAC-ADR/NYSE) priced its 10.25 million share IPO at $21.00, in the middle of its $20.00 to $22.00 range. Merrill Lynch and Citigroup were the joint book-runners; and co-managers are Dahlman Rose, Jefferies, Fortis, and Nomura.

For starters, if you notice a bunch of foreign investment bankers or any unfamiliar names it is because this is a Greek shipping company. This was just filed for an IPO last month.

The company charters containerships to major shipping companies, and last year ran $123 million in gross profit on revenues of $241 million. For more information you can visit Danaos.com.
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