Independent journal on economy and transport policy
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GE Shipping renounces to the initial public offer of the Greatship branch
The company has announced that, in consideration of the prevailing conditions of the market, it is decided to withdraw the DRHP
February 14, 2011
The shipowning society Indiana Great Eastern Shipping Co. (GE Shipping) renunciation to carry out the initial public offer of the branch Greatship (India) Ltd. (GIL) near the Stock exchange of Bombay. The company has explained that, in consideration of the prevailing conditions of the market, GIL has decided not to proceed to the emission and to have therefore withdrawn the Draft Red Herring Prospectus (DRHP), that is the rough draft of the offer (than it 12th May does not include the price of offer and the number of actions on sale) deposited near the Securities and Exchange Board of India (SEBI).
GIL, that he is constituted in 2002 and integrally is controlled by GE Shipping, with its branches work a fleet constituted from 18 ships, plus others seven unit in order, that is used to service of the offshore industry.
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