Rickmers Maritime to list on the Singapore market

Rickmers Maritime banks on a heavy acquistion focus to draw investors to its $275 million offering, in the second shipping trust to hit Singapore this month.

Only a week after First Ship Lease Trust completed its initial public offering, Rickmers Maritime has started marketing its shipping-focused business trust with the aim of raising about $275 million. Both vehicles will list in Singapore with FSL set to start trading today March 27.

According to market sources, Rickmers is planning to offer an annualised 2007 yield of about 8% to 9%, which at the mid-point will put it roughly in line with FSL. However, the trust...

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