Singapore-based shipbroker Vantage Corp. (VNTG) priced its small IPO of just 3.25 million shares at $4.00 – the low end of its $4.00-to-$5.00 price range – and raised $13 million on Wednesday night June 11, 2025. Vantage Corp.’s stock opened at $4.39 today – Thursday, June 12, 2025 – on the NYSE – American Exchange and hit an intraday high of $6.09, after trading as low as $4.35. Shares of Vantage Corp. were trading at $5.24 at around 11:46 a.m. EDT today (Thursday, June 12, 2025) on the NYSE – AmEx on volume of about 4.02 million shares.
Network 1 Financial Securities was the sole book-runner.
At pricing, Vantage Corp. had a market cap of $125.0 million. The company is incorporated in the Cayman Islands.
Vantage Corp. was “founded in 2012 by five seasoned shipbrokers with a mission of providing exceptional shipbroking services,” the prospectus said. “We are a shipbroker that connects ship owners with charterers. Our focus is on dirty petroleum products, petrochemicals, biofuels and vegetable oils. Our services are tailored to the tanker markets.”
The profitable company plans to use the IPO proceeds to open new offices in Houston and Geneva, as well as for working capital and other general corporate purposes, the prospectus said.
Vantage Corp. reported net income of $4.95 million on revenue of $20.0 million for the fiscal year that ended March 31, 2024, according to the prospectus.
“As a pivotal link between oil companies, traders, shipowners and commercial managers, we deliver a range of services including: identifying market opportunities and information for our clients, recommending interested parties (shipowners and cargo owners) to each other, advising interested clients on strategies on vessel deployment or fleet mix, specifications and capabilities, facilitating contract negotiations, (and) ensuring smooth logistical flow, as well as resolving issues that arise during the execution of chartering agreements,” Vantage Corp. said in the prospectus.
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