Vantage, a Singapore-based shipbroking company focused on petroleum products, filed on Wednesday with the SEC to raise up to $16 million in an initial public offering.
Vantage is a shipbroking company matching ship owners and charterers with a specific focus on dirty petroleum products, petrochemicals, biofuels, and vegetable oils. It provides a comprehensive set of shipbroking services, including consultancy, operational support, and facilitating contract negotiations between ship owners and charterers. Vantage leverages its extensive network and industry expertise to offer strategic guidance on vessel deployment, market opportunities, and logistical solutions, and plans to expand its geographical footprint by opening new offices in Houston and Geneva.
The Singapore, Singapore-based company was founded in 2011 and booked $20 million in sales for the 12 months ended March 31, 2024. It plans to list on the NYSE American but has not yet selected a symbol. Network 1 Financial Securities is the sole bookrunner on the deal. No pricing terms were disclosed.
