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Nordic American Tankers Commences Public Offering Of $87 Mln Common Shares

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Nordic American Tankers Limited (NAT: Quote) said it is commencing a public offering of $87 million common shares. Chairman and CEO Herbjorn Hansson is expected to buy about $1.5 million worth of common shares

The company has granted the underwriters a 30-day option to purchase up to an additional $13.05 million common shares.

The proceeds are expected to be used to pay for acquisitions under expansion program, including the Nordic Future, and for general corporate purposes.

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by RTT Staff Writer

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