Navios Maritime Containers postpones $100 million IPO

Navios Cont

Navios Maritime Containers LP, an MLP formed by Navios Maritime Holdings to own contracted containerships, postponed its IPO last week.

It had filed to raise $100 million by offering 5.3 million shares at a price range of $18 to $20.

The company announced in a press release that it would instead pursue a direct listing on a US exchange, noting that its stock is already listed on Norway’s OTC market.

The Monte Carlo, Monaco-based company was founded in 2017 and booked $98 million in sales for the 12 months ended June 30, 2018. It had planned to list on the Nasdaq under the symbol NMCI.

J.P. Morgan, BofA Merrill Lynch, Citi and Clarksons Platou Securities were set to be the joint bookrunners on the deal.

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