An oil ship IPO: Euronav prices upsized US offering at $12.25 to raise $199 million

Euronav, a Belgian shipping company with 53 oil tankers, raised $199 million by offering 16.3 million shares at $12.25. The company's stock currently trades on the Euronext Brussels under the symbol EURN. It originally filed to raise $175 million by offering 13.6 million shares at $12.94 per share. At the new offer price, it commands a fully diluted market value of $2.0 billion, or 4% less than its prior filing.

Euronav plans to list on the NYSE under the symbol EURN. Deutsche Bank, Citi, J.P. Morgan and Morgan Stanley acted as lead managers on the deal.