Apollo-backed Principal Maritime Tankers files for a $100 million IPO

Principal Maritime Tankers, an Apollo-backed owner and operator of 12 modern tankers, filed on Wednesday with the SEC to raise up to $100 million in an initial public offering. The Southport, CT-based company, which was founded in 2010 and booked $85 million in sales for the fiscal year ended December 31, 2013, plans to list on the NYSE under the symbol PMAR. Principal Maritime Tankers initially filed confidentially on February 13, 2014. UBS Investment Bank is the sole bookrunner on the deal. No pricing terms were disclosed.