Shares of liquefied gas carrier Navigator Holdings Ltd, controlled by billionaire investor Wilbur Ross, rose as much as 11 percent in their debut, valuing the company at about $1.15 billion. Navigator raised $228 million after its initial public offering was priced at $19 per share, the top end of its expected price range.The company's shares were trading at $19.88 on the New York Stock Exchange, after touching a high of $21.12.Navigator owns and operates the world's largest fleet of handysize tankers, with a deadweight of up to 50,000 tonnes, that transport a range of liquefied gases, including liquefied petroleum gas (LPG), petrochemical gases and ammonia.It competes with Athens-based StealthGas Inc, Tokyo-based Nippon Yusen KK, Belgium-based Exmar NV and Norway-based Solvang ASA.
Shares of GASS fell by 0.8% or $-0.1/share to $12.36. In the past year, the shares have traded as low as $5.34 and as high as $13.00. On average, 203465 shares of GASS exchange hands on a given day and today's volume is recorded at 11960.
Source
