Carnegie Joint Global Coordinator and Joint Bookrunner in the Initial Public Offering of OW Bunker
Carnegie acted as Joint Global Coordinator and Joint Bookrunner in the DKK 2.8-3.2 billion initial public offering of OW Bunker on Nasdaq OMX Copenhagen.
OW Bunker is a leading global marine fuel logistics company, with an estimated market share of approximately 7%. The company markets, sells and distributes marine fuels and refuelling related services on a global basis to vessels in port and offshore.
OW Bunker operates with an integrated business model, serving customers with two distribution models, reselling and physical distribution. In both models, the company controls and manages the customer relationship throughout the entire transaction and provides value added products and services, such as risk management solutions and trade credit.
For the year ended 31 December 2013, the company had a gross profit of USD 218.8 million. The adjusted profit for the year was USD 68.3 million, equal to 31.2% of gross profit. For the three years ended 31 December 2013, OW Bunker’s transaction volume grew at a compound annual growth rate of 24% to 29.2 million tonnes.