ABC gets a “D”

By Matt McCleery

In Jim Dowling’s remarks at Marine Money’s Ship Finance 2000 conference on June 20th, the dean of shipping equity analysis provided delegates with a checklist of the characteristics of a successful issuer of public equity. Key items on the list included; sector focus, potential for issuer to become consolidator, an offering larger than $100 million, modern assets and a service oriented approach to business.

While there was perhaps nothing novel in the content of the lists, Mr. Dowling’s approach effectively crystallized his four decades of experience in the sector into a form as useful as an “A to Z” guide to the tangled streets of London. For equity underwriters and companies hoping to tap the thick veins of capital that course through the public equity markets, Mr. Dowling’s list should be required reading for a first informational meeting. For shipping investors, the list should be folded into a small rectangle to be kept in the wallet at all times and pulled out, even before firing-up the HP and accepting the free roadshow lunch.

This is only an excerpt of ABC gets a “D”

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