New IPO News Of Oil tanker operator Overseas Shipholding

Overseas Shipholding Group, an oil tanker operator taken out of bankruptcy, withdrew its plans for an initial public offering on Tuesday. It originally filed in May 2015 for an IPO that we estimated could have raised $300 million.

The New York, NY-based company was founded in 1948 and booked $899 million in sales for the 12 months ended March 31, 2015. It had planned to list on the NYSE under the symbol OSG. Goldman Sachs, Jefferies and UBS Investment Bank were set to be the joint book runners on the deal.

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