Alma Maritime officially withdraws $225 million IPO

Alma Maritime Limited, a Greek shipping company that owns five bulk carriers and five oil tankers, withdrew its plans for an initial public offering on Monday. It had filed in 2010 to raise $225 million by offering 11.3 million shares at a price range of $19 to $21.

The Athens, Greece-based company was founded in 2008 and never reported revenues. It had planned to list on the NYSE under the symbol AAM. BofA Merrill Lynch and UBS Investment Bank were set to be the joint bookrunners on the deal.