Gram Car Carriers set to raise $110m from Olso IPO


Gram Car Carriers has issued a $110m equity private placement in connection with its listing on Euronext Growth.

The private placement will consist of a primary offering of approximately $100m in gross proceeds by the issuance of new shares based on the offer price with a range of NOK67 ($8) to NOK84 ($10) per share and an over-allotment offering of up to 10% of the new shares, which is equal to approximately $10m.

The offer period started on Monday morning and ends after the end of the trading day on November 9.

?et proceeds are set to be used by the company to fund the acquisition transfer of the fleet, strengthen its balance sheet through repayment of debt and for general corporate purposes.