When Harry Met Wall Street

After getting tangled up in two botched corporate finance transactions, Transpetrol, the majority holder of Benor Tankers, took the company private on its tenth birthday. Since Benor was one of the first non-family controlled tanker companies to go public in Oslo, we think that the loss of the company as a public vehicle deserves some reflection.

The first nine years of Benor’s public life were relatively uneventful. The company did its initial listing in Bermuda in January 1990 followed quickly by a listing in Oslo the next year and then went about the business of transporting oil. Like all shipping companies, Benor bumped its way through rough market conditions, energetically raising capital in the bank market and through secondary equity offerings.

This is only an excerpt of When Harry Met Wall Street

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