Danaos raises $215 million
The Greek containership chartering company Danaos Corp., Thursday raised $215 million with an initial public offering of about 19 percent of its equity. Its stock will trade on the New York Stock Exchange under the symbol DAC. The company said it will use the proceeds from the sale to repay debt.
The Piraeus-based company, which had been owned primarily by the Coustas family, has a fleet of 27 containerships with total capacity of 116,115 TEUs and has newbuilding contracts or purchase agreements for another 16 with a capacity of 84,704 TEUs.
Customers include Maersk Line, COSCO Container Lines, Hapag-Lloyd, CMA CGM, Hyundai, APL, CSAV Norasia, Yang Ming, Wan Hai, and China Shipping.
Danaos also has a half dozen handymax and panamax ships, which it is in the process of selling.
The company said it expects to pay an annual dividend of $1.76 per share.
Danaos raises $215 million
