SeaCube plans $165m IPO
Bermuda-incorporated SeaCube Container Leasing Ltd., a container leasing company, intends to go public through an initial public offering of up to $165 million of common stock, according to a regulatory filing.
The Park Ridge, New Jersey-headquartered company said it plans to apply to have its common shares listed on the New York Stock Exchange.
For the year ended December 31, 2009, the company reported total revenue of $141.9 million, net loss of $15 million, adjusted net income of $17.2 million and Adjusted EBITDA of $206.4 million.
SeaCube Container was incorporated on the Island in March 2010 by its initial shareholder, a subsidiary of Seacastle Inc., an entity primarily owned by certain funds managed by an affiliate of Fortress Investment Group LLC.