“There has been significant interest from energy investors and every indication that the deal is oversubscribed,” said one source familiar with reaction to Euronav’s mini deal roadshow this week.

Euronav’s US initial public offering was nominally scheduled to price next week, but finance sources say the level of interest was sufficient to wrap up the deal more quickly.

While pricing is still expected to remain around the $12.94 mentioned in Euronav’s prospectus — tied to its trading level on the Euronext — there is a chance the owner will choose to increase proceeds by selling more new shares, sources said.

Paddy Rodgers-led Euronav has set its sights on proceeds of $160.5m from the offering of 13,550,000 ordinary shares.

Its purse will hit $185.1m should underwriters take up their full options.

Funds from the IPO will both repay debt and continue an ambitious fleet growth plan which started a year ago with a $980m move for 15 VLCCs.

Deutsche Bank, Citigroup, J.P. Morgan Securities and Morgan Stanley are acting as joint book-running managers.

It is taking a fleet of 52 vessels to the New York Stock Exchange, including 26 VLCCs, 23 suezmaxes and two FSOs.

source:www.tradewindsnews.com