Impartial bulk provider Himalaya Transport (HSHP) has filed to boost $10M via a US preliminary public providing to assist finance its new fleet of dry bulk crusing vessels.

The Bermuda-based delivery group did not specify in its submitting how many shares it meant to promote or the worth, however indicated it was in search of to boost as much as $10M in its submitting charge schedule. DNB Markets and Clarksons Securities are serving as lead bookrunners.

The corporate’s shares have been authorised to be listed on the NYSE beneath the image HSHP. It shares already commerce on Euronext Broaden, which is operated by the Oslo Inventory Alternate.

Based in March 2021, Himalaya has one new fuel-efficient Newcastlemax dry bulk vessel in operation and 11 extra beneath development in China. Whereas the corporate plans to sail the vessels worldwide, key routes can be Brazil to China and Australia to China.

The corporate stated its first vessel is simply starting to generate income. It reported a internet loss attributable to shareholders of $2M for 2022 with no income.

Himalaya stated in its submitting that internet proceeds from the IPO can be used to pay a portion of its bridge financing facility with DNB Financial institution.