publicly traded company ICB Shipping AB, plans to sell 15 million shares in a global initial public offering.

Knightsbridge, formed in Bermuda in September, will sell 12 million common shares in the US and another 3 million shares in other countries, according to a filing yesterday with the Securities and Exchange Commission.

The company expects to price the stock at $20 a share, raising as much as $281.4 million after expenses, and use the funds to pay for the purchase of five recently built double-hull "very large crude carriers'', the SEC filing said.

A $184 million loan will also be required to cover the cost of the carriers, which will be chartered to Shell International Petroleum Co. Ltd.

The business of Knightsbridge will entail acquiring, selling, owning, leasing and chartering the five carriers.

ICB International Ltd. a subsidiary of ICB Shipping, will purchase 1 million shares in the offering and own 6.7 percent of Knightsbridge after the IPO.

Lazard Freres & Co. LLC will act as global arranger for the offering and Goldman, Sachs & Co. will be the global coordinator and bookrunner for the IPO.

The company's shares are expected to be listed on the Nasdaq Stock Market under the symbol VLCC, according to the filing.

SHIPPING SHI