Scorpio Bulkers, a recently-formed drybulk shipping company, announced terms for its IPO on Friday. The Monaco-based company plans to raise $151 million by offering 15.5 million shares at $9.75 per share. At the midpoint of the proposed range, Scorpio Bulkers would command a market value of $1.1 billion. he company currently trades on the Norwegian OTC markets under the ticker SALT.
Scorpio Bulkers, which was founded in 2013, plans to list on the NYSE under the symbol SALT. Scorpio Bulkers initially filed confidentially on October 1, 2013. Deutsche Bank, Credit Suisse and RS Platou Markets are the joint bookrunners on the deal.
