KKR-Backed Ship Repair Firm to Use IPO Proceeds to Boost Growth [BNN Bloomberg (Canada)]
A.P MOLLER-MRS UNS/ADR (AMKBY)
NASDAQ:AMEX Investor Relations:
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Company Research
Source: BNN Bloomberg
Hyundai Marine's stock surged 97% on its first day of trading Wednesday, pushing the company's market value above 7.2 trillion won ($5.3 billion) and ranking it just outside the 50 biggest companies on the benchmark Kospi index. The firm raised about $547 million in Korea's biggest IPO since January 2022, and will use the proceeds to invest in shipyards in Southeast Asia, increase warehouse capacity and develop technologies for renovating vessels in greener ways, Chief Executive Officer Lee Ki-dong said. “We showed at least 25% growth for the last six years from after-market business,” Lee said in an interview Thursday at his office in Seongnam, south of Seoul. “We will show this growth for the next three years,” he said, adding the company is in talks with a number of shipping firms for potential orders to retrofit vessels into methanol-powered, dual-fuel ships. The deals could be announced later this year, Lee said. Shipping firms, which account for about 3% of man-made carbo
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News
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- Crashed Ship in Baltimore Set to Be Moved to Nearby Docks Monday [BNN Bloomberg (Canada)]BNN Bloomberg
- French Shipping Giant Expects Slump in Cargo Rates [BNN Bloomberg (Canada)]BNN Bloomberg
- ZIM Integrated surges as analysts see container shipping stocks continuing higher [Seeking Alpha]Seeking Alpha
- Sweden gears up for Eurovision final amid Israel protests and Dutch controversy [Reuters]Reuters
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Analyst Actions
- 2/21/24 - Sanford C. Bernstein