Scorpio Tankers, a Marshall Islands-based company that owns and operators tankers to provide seaborne transportation of petroleum products, filed on Tuesday with the SEC to raise up to $150 million in an initial public offering. Scorpio Tankers was incorporated in 2009 by Simon Financial Limited, which is owned by members of the Lolli-Ghetti family. The company booked $32 million in sales over the last 12 months and plans to list on the NYSE under the symbol STNG. Net proceeds will be used to repay debt oustanding under a 2005 credit facility of roughly $40 million, as well as pursue vessel acquisitions. Morgan Stanley and Dahlman Rose & Co. are the lead underwriters on the deal, for which pricing terms and timing were not disclosed.
