IPO News: Harbor Star Shipping Services Inc.

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It has been quite awhile when we had IPO news. This time we have a service company in the maritime industry to list its share in the Philippine Stock Exchange.

Harbor Star Shipping Services INc. IPO in the Philippine Stock Exchange

source: http://www.harborstar.com.ph

Harbor Star Shipping Services Inc. is a company primarily engage in Harbor docking, towage, and related services in the maritime industry. They maintain a fleet of tugboats all over the Philippines and have regional offices in Davao and Cagayan de Oro while their head office is at Metro Manila.They are the first and only ISO 9001:2000 certified Tug Company and a member of the International Marine Contractors Association (IMCA).

Based on the initial prospectus(which you can download from PSE’s website by clicking here) the company is expanding its operations.

Details of the offer(from the prospectus above) are below:

Offer shares: 181,600,000 Common Shares with a par vale of

1.00 peso/share

Offer price: Up to 3.27 pesos per share

Offer Period:July 22-26, 2013

Expected listing date: August 2, 2013

Further reading about this IPO are below:

Tugboat operator lines up P593-M IPO

Tugboat operator Harbor Star to list on PSE Aug. 2


Habor Star official website

Financial Freedom Advocate About the blogger

Louis Delos Angeles is a Certified Public Accountant, blogger behind Investing in Philippines, and author of Investing in Stocks: Preparing for the future small amount at a time. Check him out in Google+ Learn more about Louis and his financial freedom advocacy here.

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4 comments for “IPO News: Harbor Star Shipping Services Inc.

  1. July 13, 2013 at 10:16 pm

    Another IPO!

    Good thing they’re coming after the big drop, at least there’s a better chance they don;t go the way of DMPL.

    Who are the owners though, would you know?

    • July 14, 2013 at 2:32 pm

      Yes Carlos at least the price of this won’t be affected by the price drop that drag most of the stock prices in the past weeks. Based on the prospectus the owners are the Bella’s owning about 98% before the IPO. After the IPO their ownership will be reduced to about 68% to comply with the public float requirement.

  2. Irene
    July 29, 2013 at 10:36 pm

    What would you like to say about the security services of Harbor Star Shipping Services Inc., if a carriage or goods get damaged then what will the company offers?
    I have personally used one shipping company aaeconomyfreight and they offers a full security services to all our goods and assures us that the goods are under extreme care. for reference visit : aaeconomyfreight
    its just my concern to know what other shipping company offers?

    • July 30, 2013 at 8:41 pm

      Hi Irene. AAEconomy Freight is an Irish company and I am pretty sure Harbor Star would give the same level of security. They would not get the certifications and other clearances that they need in order to operate in the Philippines if they fall below the standard as required by the maritime industry. But again one has to do due diligence when seeking services for transhipment of goods, you wouldn’t hire somebody who would not answer for such damages.

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