NOL SHELVES IPO PLAN FOR TANKER ARM
American Eagle Tankers, the tanker shipping subsidiary of Neptune Orient Lines, said that it is withdrawing its initial public offering related to a listing on the New York Stock Exchange and on the Singapore Exchange Securities Trading.
Flemming Jacobs, group president and chief executive officer of the NOL group and CEO of APL Liner, said that current equity market conditions were
unfavorable for a listing of American Eagle Tankers.
The initial public offering plan was announced in May.