Overseas Shipholding Group, an oil tanker operator taken out of bankruptcy, filed on Monday with the SEC to raise up to $100 million in an initial public offering.
Overseas Shipholding Group first began trading on the NYSE under the ticker OSG in 1970, but in November 2012 it filed for bankruptcy. In August 2014, it received $1.51 billion from PE funds in exchange for Class A and B common stock and warrants.
2015 oil tanker IPO Euronav (EURN) is up 13% from its offer price.
The New York, NY-based company, which was founded in 1948 and booked $957 million in sales for the 12 months ended December 31, 2014, plans to list on the NYSE under the symbol OSG. Goldman Sachs and Jefferies are the joint bookrunners on the deal. No pricing terms were disclosed.
