Ο Πάρις Κασιδόκωτσας, εγγονός του θρυλικού εφοπλιστή Ιωάννη Λάτση, λέει πως μια αρχική δημόσια προσφορά (IPO) δεν είναι επικείμενη, αλλά η επιλογή αυτή δεν έχει αποκλειστεί.
Ο διευθυντής της LatscoShippingLtdκαι σκηνοθέτης, ο οποίος έχει συνεργαστεί με τις ναυτιλιακές επιχειρήσεις της οικογένειας κατά τα τελευταία δύο χρόνια, είπε: «Νομίζω ότι ένα IPO είναι μία από τις πολλές επιλογές που μια εταιρεία έχει, προκειμένου να εξελιχθεί και να αναπτυχθεί».
«Είμαστε πάντα ανοικτοί σε όλες τις επιλογές. Τις διερευνούμε, όπως έχουμε διερευνήσει και αυτή της εισαγωγής. Δεν είναι όμως κάτι που εξετάζουμε αυτή τη στιγμή », είπε σε συνέντευξη στη TradeWinds, στα γραφεία της Latsco στην Αθήνα.
Kassidokostas-Latsis open to family’s first shipping listing
Latsco director says an initial public offering (IPO) is not imminent but he is not ruling out listing a fleet in the future
Paris Kassidokostas–Latsis is open to the idea of taking part of the Latsis family’s shipping business public for the first time in its history.
Kassidokostas–Latsis, the grandson of legendary shipowner John Latsis, says an initial public offering (IPO) is not imminent but the option has not been ruled out.
The Latsco Shipping Ltd director, who has been working with the family’s shipping business over the past two years, said: “I think an IPO is one of the many options that a company has in order to evolve and grow.
“We are always open to all options. We explore them, as we have explored this too. It is not something we are considering right now,” he said in an interview with TradeWinds at Latsco’s offices in Athens.
High-level financial sources say talk of Latsco listing its very large gas carrier (VLGC) fleet has been circulating for several months at a time when the LPG market is in the ascendency with investors.
Four of the leading names in the VLGC segment — BW LPG, Avance Gas, Dorian LPG and Aurora LPG — have gone public in the past year.
The wider LPG market has also gained further profile with the emergence of computer billionaire Michael Dell as a major investor in Harry Vafias-led StealthGas and the listing of Wilbur Ross-linked Navigator Gas in New York.
Latsco has four VLGCs in the water and a further four under construction at Hyundai Heavy Industries (HHI), according to Clarksons.
UK-based Online platform VesselsValue.com put the value of the owner’s trading VLGCs at $302m and its newbuildings at $355.4m at the start of this week.
Latsco also owns a fleet of 10 trading products tankers and seven newbuildings.
“We are open-minded,” Kassidokostas–Latsis said when asked about the listing rumours. “We like to explore our potential options and, obviously, we want to do our homework and educate ourselves before we make any decisions.
“Right now, strategically, we have not taken such a decision yet. In the future I could not rule it out.”
In all, LPG owners have raised in the region of $500m from the capital markets in the opening six months of 2014, Clarksons’ data reveals. This followed on from the $1.17bn collected by LPG owners from shares sales in 2013, the broker’s figures show.
Consolidation has been a hot topic in the VLGC sector, thanks largely to Avance Gas’s public pursuit of Dorian LPG.
Kassidokostas–Latsis said: “I think you have limited benefits [from consolidation] when it comes to private companies from an operational level. Maybe there are some benefits commercially. In the public sector, in the capital markets, the objectives and the strategy are different. That is where it might make a lot more sense.”
(Pictured: Marianna Latsis, Henrietta Latsis and Paris Kassiodokostas-Latsis at Posidonia 2014)