TheManhattan-based investment bank and financial advisor on Tuesday announcedplans to list shares on the New York Stock Exchange under the symbol “MC” butfailed to shed light on timing.
Ina prospectus filed with the US Securities & Exchange Commission the firmpointed out that it generated revenues of $411m and pre-tax income of $73m in2013, which marked its sixth full year of operations.
Thecompany said it expects to see a spike in merger-and-acquisition activity in avariety of regions and markets in the years ahead and believes demand for its restructuringservices will continue to be strong as well.
Theprospectus offers a rare glimpse at the inner workings of a firm that hasbecome increasingly active in the shipping industry over the past few years,which may not come as a surprise due to the depth and duration of the downturn.
Moelis,which prides itself in keeping a low profile, has served as an advisor to thelikes of Torm, Horizon Lines, NewLead Holdings, Eagle Bulk Shipping, General MaritimeCorp and is widely believed to be keen on the continued expansion of itspresence within the sector.
Priorto General Maritime’s Chapter 11 overhaul in 2012 the firm seemed to be somewhatof a stranger to shipping but today the mere mention of its name in connection with a cash-strapped operator is enough to ignite concerns that a bankruptcy filing maybe on the horizon.
You can read the turnaround specialist's IPO prospectus in full by clicking on the link located under the Related Media section to the right of this article.
