Pacific Basin plugs IPO

Will a high dividend yield and low valuation be enough to tempt investors?

Minor dry bulk carrier Pacific Basin has launched roadshows for its Hong Kong IPO, hoping to raise HK$961 million $123 million to HK$1.27 billion $162 million from a 437 million share deal.

Timing of the offering could hardly be worse given the poor performance of a recent IPO for China Shipping and a huge plummet in the Baltic Dry Index BDI, which measures rates for dry bulk vessels and has slipped from...

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