London Stock Exchange welcomes Global Ports Holding plc to the Main Market
London Stock Exchange today welcomed Global Ports Holding, the largest independent cruise port operator in the world, to celebrate its recent admission to the standard segment of the Official List of the FCA and to trading on the London Stock Exchange's main market for listed securities.
Global Ports Holding, trading under the symbol “GPH”, successfully raised net proceeds of £51.7million from a range of institutional and retail investors, and intends to use the majority of these proceeds to develop and expand the cruise port business.
GPH has a diversified and strategically located portfolio of 14 ports in eight countries, serving cruise liners, ferries, yachts and mega-yachts. As the sole global consolidator of cruise ports, the Company has built on its "first-mover" advantage to establish a strong platform that represents a "one stop shop" offering integrated services to global cruise lines and their customers. It aims to drive significant organic and inorganic growth by expanding and integrating the number of ports it operates and improving its cross-selling of services to both cruise operators and passengers. In addition to its cruise operations, the Company operates two commercial ports which specialise in container, bulk and general cargo handling, as well as marine services for cargo ships.
In the future GPH intends to apply for all of its shares to be admitted to the premium listing segment of the Official List maintained by the FCA. GPH intends to continue enhancing its corporate governance and prepare to comply with the obligations applicable to a company listed on the premium listing segment of the Official List.
Emre Sayin, Chief Executive Officer, said:
"We are very pleased to have successfully completed our IPO today and to officially join the LSE. Our unique business model together with our ambitious growth plans will create value for all our stakeholders. We look forward to the future with confidence."
Mehmet Kutman, Chairman / Co-Founder, said:
"We are delighted to have completed the listing on the London Stock Exchange's Main Market, which will allow GPH to take advantage of the opportunities ahead. I would like to welcome our new shareholders who recognise our leading position and share our exciting vision."
Barclays Bank PLC, Citigroup Global Markets Limited and Goldman Sachs International acted as Joint Global Coordinators, and together with VTB Capital plc as Joint Bookrunners. Shore Capital acted as Lead Manager. Baker & McKenzie acted as legal counsel to the Company. The Underwriters were advise by Cleary.