Vantage, a Singapore-based shipbroking company focused on petroleum products, announced terms for its IPO on Wednesday.
The Singapore-based company plans to raise $15 million by offering 3.3 million shares at a price range of $4 to $5. At the midpoint of the proposed range, Vantage would command a market value of $141 million.
Vantage is a shipbroking company matching ship owners and charterers with a specific focus on dirty petroleum products, petrochemicals, biofuels, and vegetable oils. It provides a comprehensive set of shipbroking services, including consultancy, operational support, and facilitating contract negotiations between ship owners and charterers. Vantage leverages its extensive network and industry expertise to offer strategic guidance on vessel deployment, market opportunities, and logistical solutions, and plans to expand its geographical footprint by opening new offices in Houston and Geneva.
Vantage was founded in 2011 and booked $20 million in revenue for the 12 months ended March 31, 2024. It plans to list on the NYSE American under the symbol VNTG. Network 1 Financial Securities is the sole bookrunner on the deal.
