Target Marine eyes Hong Kong IPO

Greece-based shipping firm Target Marine is eyeing a $200m to $300m initial public offering (IPO) on the Hong Kong Stock Exchange in the second-half of this year, reports said, Seatrade Asia online reports. The IPO would be the first by a Greek company in Hong Kong. The company has hired Nomura and J P Morgan Chase to handle the deal, according to Dow Jones. Target Marine, established in 1986, owns more than 10 tankers and bulk carriers, including suezmaxes, LR1s, MRs and supramaxes.