London Stock Exchange welcomes Taylor Maritime Investments Limited to the Premium Segment of the Main Market

London Stock Exchange welcomes Taylor Maritime Investments (‘TMI’) to mark the admission of TMI’s shares to trade on the Premium Segment of the Main Market.

TMI is an internally managed investment company with an Executive Team led by Edward Buttery. The Executive Team has to date worked closely together for the Commercial Manager, Taylor Maritime. Established in 2014 by Edward Buttery, Taylor Maritime is a privately owned ship-owning and management business with a seasoned team that includes the founders of dry bulk shipping company Pacific Basin Shipping (listed in Hong Kong 2343.HK) and gas shipping company BW Epic Kosan (formerly Epic Shipping) (listed in Oslo BWEK:NO). Taylor Maritime's team of experienced industry professionals is based in Hong Kong and London. Taylor Maritime's principals have been some of the most active buyers of Handysize and Supramax dry bulk ships having made over US$1.3 billion of asset purchases and sales since 1987.

The IPO raised gross proceeds of approximately US$253.7 million by way of an Initial Placing, Offer for Subscription and issue of Consideration Shares.

The Initial Seed Asset Acquisition Agreements were completed on the First Day of Dealings.  These agreements relate to 17 vessels being acquired for an aggregate consideration of US$182.8 million.

The Company will initially target an annual dividend yield of 7% (on the initial Issue Price) paid quarterly with the potential for further growth over the long term.
 
Edward Buttery, CEO of Taylor Maritime Investments Limited, said: "We are very pleased to be part of the prestigious London Main Market and would like to thank everyone who participated in the IPO. This is a major milestone for Taylor Maritime Investments and provides us with a platform to grow the Company as we pursue our ambition to deliver consistent income and capital growth to our shareholders. We look forward to swiftly deploying the proceeds of the IPO into our seed portfolio of carefully selected and high-quality Handysize and Supramax vessels."

Quick facts

Track
Market: Main Market
Instrument market cap (£m)
-
Listing/Admission to trading
27 May 2021
Looking for new and recent issues?

More recent

92.5
London Stock Exchange welcomes Graft Polymer Plc to the Main Market

The London Stock Exchange today welcomes Graft Polymer (UK) PLC, a business focused on the development of polymer modification, bio/food supplements and drug delivery systems, to the Main Market, trading under the ticker symbol “GPL”.

Graft Polymer is an early-stage company with a state-of-the-art polymer research and development, manufa

Learn more
97.567
London Stock Exchange welcomes Genflow Biosciences Plc to the Main Market

London Stock Exchange today welcomes Genflow Biosciences Plc, a UK-based biotechnology company focused on longevity and the development of therapies to counteract the effects of aging and diseases associated with advanced age, to the Standard Listing Segment of the Main Market, under the ticker symbol "GENF".

Genflow Biosciences opened th

Learn more
74.96
London Stock Exchange welcomes East Star Resources Plc and their readmission to the Main Market

London Stock Exchange welcomes the readmission of East Star Resources, a company focused on the discovery and development of gold, copper, and base metals in Kazakhstan, to the Main Market under the ticker “EST”. The company raised gross proceeds of £3.1 million via a placing and subscription of 62,000,000 shares at £0.05 per share, delivering a ma

Learn more
168
London Stock Exchange celebrates FTSE Russell’s index partnership with Abu Dhabi Securities Exchange

Today, London Stock Exchange markets were opened by Abu Dhabi Securities Exchange and FTSE Russell to mark their partnership and the launch of the FTSE ADX Index Series.

FTSE ADX General Index FTSE ADX Sector Indexes FTSE Russell provides daily index calculations on the ADX General Index FTSE ADX General Index replaces the ADX General Index FTSE Russ

Learn more