Guernsey-registered fund Tufton Oceanic Assets Ltd has completed
an initial public offering on the London Stock Exchange.
Trading on the specialist fund segment of the LSE's Main
Market, the fund's initial placing raised $91 million to be
invested in a diversified portfolio of commercial sea-going
vessels. Tufton Oceanic Ltd, its investment manager, has been a
specialist fund manager in the maritime and energy markets since
2000 and has been focused on financial services to these industries
since inception in 1985. Lawyers from Carey Olsen, including
partner Ben Morgan and senior associate John Scanlan advised Tufton
Oceanic on the Guernsey legal aspects of the IPO.
"The current global shipping market presents some
attractive opportunities for a company with the knowledge and
expertise of the manager, so we're delighted that Carey Olsen
was able to assist them with this innovative listing," said Mr
Morgan.
