Shipping: Oil Tanker Firm Frontline Plans $100 Million Stock Offering (FRO)

From Hellenic Shipping News:

Oil tanker company Frontline will raise up to $100 million in an equity offering to fund potential growth opportunities and general corporate needs, it said.

Morgan Stanley will act as the Oslo and New York-listed shipping firm’s sales agent, Frontline said.
The company has repeatedly said it is looking to add to its fleet of Very Large Crude Carriers (VLCCs) as well as smaller vessels but has yet to announce a deal.

Frontline said on May 20 it currently has five tankers on order – one VLCC expected to be delivered this month, and four LR2 tankers, which are to be delivered over the coming 19 months....MORE