Second Time’s the Charm

While the previous article explains the bunkering industry and Aegean Marine Petroleum’s role in it, what it does not explain is why the company’s first attempt at an IPO faltered while its second attempt was quite successful.

It doesn’t seem likely that the year between when Aegean first filed and when it priced its IPO is simply how long it took Bear Stearns and the other underwriters to get a critical mass of investors to read Neil Cockett’s 3-inch bunkering “Bible” and reach a true understanding of the bunkering industry. And while Chemoil did price a bunkering IPO in Singapore slightly beforehand, Aegean Marine’s sudden success certainly could not be attributed to the sudden appearance of a universe of comparable companies.

This is only an excerpt of Second Time’s the Charm

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