Global Ports Holding IPO

 

Application for the Global Ports Holding IPO is now closed

 

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Global Ports Holding

Global Ports Holding (GPH) announced its intention to float on London's Main Market in a $250m IPO, and in doing so, chose the UK's capital over a whole host of alternative options. The firm announced its ITF on 19th April 2017 and counted Shore Capital as the lead manager for the deal. Established in 2004, GPH currently operates in the Mediterranean, but is aiming to build a global network of cruise ports. The company boasts 14 ports in eight different countries - six of which have been added in the last 18 months - and serves cruise liners, ferries, small yachts and superyachts.  

 

Highlights

The company is the world's largest independent cruise port operator and offers a number of key selling points.  

  • Compound annual growth revenue of 13% between 2014-2016
  • 7.8 million passengers served in 2016, double 2014's figure
  • The company generated a consolidated revenue of $114.9m in 2016
  • Strong and experienced management team with an international track record of operational excellence
  • The Board of GPH expects to pay a minimum dividend of US$25 million in 2017, and expects dividends to grow broadly in line with earnings from thereon in

 

Details of the float

The company raised $250m, of which $75m was from the issue of new shares. The company floated with a share price of 740p. Minimum investment was £1,000 for retail investors and the majority of the money raised from the IPO will be used in acquiring and developing new ports. GPH has already started analysing nine ports in Europe, seven in the Caribbean and four in Asia, branching out from its traditional Mediterranean base. 

 

Timetable

  • ITF announcement: 19th April 2017
  • Publication of the Prospectus: 2nd May 2017
  • Launch of the offer: 2nd May 2017
  • Close of intermediaries offer: 11th May 2017
  • Formal announcement of the Offer Price: 12th May 2017
  • Start of conditional trading: 12th May 2017
  • Admission of shares: 17th May 2017

 

This information is issued by, and is the sole responsibility of SyndicateRoom and any application to participate in the Offer can and will only be made on the basis of the Prospectus, together with any supplements thereto.

 

 

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