Britannia Bulk Holdings Launches IPO

LONDON, June 4 /PRNewswire/ — Britannia Bulk Holdings Inc (the “Company”) announced today that it is commencing an initial public offering of 8,333,333 shares of its common stock at a proposed initial public offering price of $17.00 to $19.00 per share. One of the Company’s directors of chartering and the entities through which the other director of chartering and the chief executive officer hold their interests in the Company’s shares have granted the underwriters the right to purchase up to 1,250,000 shares of common stock in the aggregate at the initial public offering price, less underwriting discounts, to cover over-allotments, if any. The underwriters may exercise this right for up to 30 days. The Company has applied to list its common stock on The New York Stock Exchange under the symbol “DWT.”