Monaco-based GoodBulk, an owner and operator of dry bulk vessels, has pulled its IPO due to “adverse market conditions.” The company had planned trading the stock on the NASDAQ. GoodBulk’s backers include CarVal Investors and Lantern Asset Management.
Hamilton, Bermuda – (27 June 2018) – GoodBulk Ltd. (“GoodBulk” or the “Company”) today announced that, as a result of adverse market conditions, it has ceased marketing of its proposed initial public offering of its common shares, which had been expected to be listed on the Nasdaq Global Select Market. The Company will evaluate the timing for the proposed offering as market conditions develop.
About GoodBulk Ltd.
GoodBulk, incorporated in Bermuda and headquartered in Monaco, is an owner and operator of dry bulk vessels formed in October 2016 for the purpose of owning high quality second hand dry bulk vessels between 50,000–210,000 DWT. GoodBulk controls a fleet of 25 dry bulk vessels, including 22 Capesize vessels, 1 Panamax vessel, and 2 Supramax vessels. Designed to provide an efficient company for investors to access the dry bulk market, all vessels are externally managed by C Transport Maritime S.A.M. a leading third-party manager of dry bulk vessels. GoodBulk is listed on the Norwegian OTC market under the symbol “BULK.”