Denmark's OW Bunker to raise $21 mln in IPO

COPENHAGEN, March 18 Tue Mar 18, 2014 4:49am EDT

COPENHAGEN, March 18 (Reuters) - Danish ship fuel supplier OW Bunker IPO-OWBT.CO aims to raise 110 million Danish crowns ($20.5 million) through an initial public offering (IPO) of stock on April 2 at the latest, it said on Tuesday.

OW Bunker set a price range of between 120 Danish crowns and 150 crowns per share for the IPO, putting a value of up to 5.5 billion crowns on the company.

The firm, which has a share of around 7 percent of the global shipping fuel market, said it planned to sell new stock as well as some of the shares owned by its major shareholder, private equity group Altor.

OW Bunker & Trading said the free float would be 40-60 percent, depending on the final number of shares sold.

($1 = 5.3588 Danish Crowns) (Reporting by Ole Mikkelsen; Editing by Mark Potter)

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