Tufton Oceanic Assets first floated plans for a stock listing in February last year with a top-line target of $150m — a figure that was lowered to $100m in the run-up to the initial public offering.
It ultimately raised $91m, which Tufton Oceanic portfolio manager Paulo Almeida stresses is not seen as falling short of expectations.
“We needed to raise $80m, a little bit more is better,” he says.
