Costamare IPO: Review Analysis & Details of Costamare Shipping IPO

Another IPO is set to hit the primary stock markets pretty soon. The IPO belongs to Costamare Shipping Company, which is a shipping company owned by Konstantakopoulos family of Greece and it has now come out with the Initial Public Offering or IPO.
In this article, we will look at the Review, Analysis and Details of the Costamare Shipping IPO and try to do the Review and analysis of Costamare Shipping IPO.

Costamare Shipping IPO: Review Analysis & Details

Some basic details first about the Costamare IPO, which are available as of now:

- The size of Costamare IPO is expected to be between around 245 million USD to 260 million USD.

What is the issue size of the Costamare IPO?
Around between 245 million USD to 260 million USD is the size of the IPO.
What is the price band of Costamare IPO?
It is reported that the recommended price band for Costamare IPO is $15 to $17 per share. Final price to be decided through 100% book building process.

How many shares will be sold in the Costamare IPO?
The total no. of shares to be sold through this IPO is 13.3 million shares.

What is the trading symbol & exchange for the Costamare IPO
No info about that

What are the IPO dates for Costamare IPO
The IPO dates have not yet been finalised

Any ratings given to Costamare IPO?
No information about that.

What are the analysts recommendations and business results for Costamare IPO?
Costamare is run and owned by a Greek business family. This company has 41 ships in its fleet. However, this no. is smaller to what it used to have.
It was having 53 ships in 2008, got hit by the global slowdown and had to cut the fleet size to 41.
Its major business is to lease out ships to big shipping companies for e.g. A.P. Moller-Maersk.
The money collected through this IPO will be used for corporate expenses and increasing the fleet size by buying more ships.
Although 13.3 million shares are offered on sale, the family owning this company is not selling its 46.5 million shares, so they will remain the majority holder. The underwriters of the issues - Morgan Stanley and BofA Merrill Lynch - are given the option to buy 2 million additional shares in case the demand rises.

The company is expecting to pay 25 cent of quarterly dividend post the IPO, which is a good sign, but might indicate that the price of the IPO will be relatively higher to account for this 25 cent payback in the form of dividend