Bringing you live news and features since 2006 

Blue Ocean Maritime Income to list on LSE

RELATED TOPICS​

Blue Ocean Maritime Income, a closed-ended company which intends to operate as an investment trust, is to launch an initial public offering (IPO) on the London Stock Exchange (LSE).

The IPO will be by way of a placing and offer for subscription targeting the issue of 250 million ordinary shares at an issue price of USD1.00 per Ordinary Share.
 
A prospectus in connection with the IPO has been published.
 
The objective of the Company will be to generate long-term, sustainable shareholder returns, predominantly in the form of income distributions, from direct lending and similar financing opportunities to vessel owners and operators, and other maritime businesses.
 
Svein Engh, Portfolio Manager, Blue Ocean Maritime Income, says: “Shipping is a large and diverse industry, which creates many significant investment opportunities. While we continue to see capital inflow to direct lending vehicles and investment funds in sectors such as real estate or infrastructure, the maritime financing sector is in a different position; values are low, and the competition is limited, resulting in attractive risk-adjusted yield opportunities.”
 
“The banking dislocation is driving our opportunity and we are stepping into the area where banks used to be very active but are now restricted due to Basel regulations and other factors. As a non-bank lender, we can construct our portfolio in a countercyclical manner in the privately-owned segment of the shipping market. We are completely focused on the industry, with our team of shipping experts having a combined 60 years of experience.”
 
Roger Harle, Senior Vice President at EnTrustPermal, adds: “We are delighted to announce the proposed IPO of Blue Ocean Maritime Income plc. With Svein’s experience in this sector, along with the support from the investment team, we have the opportunity to target high-quality maritime assets in the private market.”
 
“We believe this is a unique and compelling investment opportunity, providing investors the chance to access an often-overlooked market, through a highly experienced investment team.”

Latest News

European ETFs raised USD47.8 billion in Q1, a 15 per cent increase compared to the same period in 2023, according..
LSEG Lipper’s March report finds that globally equity ETFs (+EUR113.2 billion) enjoyed the highest estimated net inflows for the month,..
Morningstar has published a review of the European ETF market for the first quarter 2024, which finds that it gathered..
ETF data consultant ETFGI reports that assets invested in the global ETF industry reached a new record of USD12.71 trillion..

Related Articles

Kristen Mierzwa, FTSE Russell
Index Investments Group (IIG), a division within index provider FTSE Russell, has extended its range of indices through two new...
ETFs
US ETF issuers of active ETFs are facing an increase in fees from the big custodian firms, such as Charles...
Taylor Krystkowiak, Themes ETFs
Themes ETFs opened its doors in December 2023, with an introductory suite of 11 ETFs – seven thematic and four...
Konrad Sippel, Solactive
At the end of March, financial index specialist, Solactive, published its 2024 annual report on future trends.  ...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by