With IPO, it's full speed ahead for Horizon Lines

The ocean container shipping company Horizon Lines Inc has announced an initial public offering of 12,500,000 shares of its common stock, all of which are being issued and sold by Horizon Lines, at a price of $10 per share. Horizon Lines has also granted the underwriters a 30-day option to purchase up to 1,875,000 more shares from the company to cover any overallotments.

This offering is being made through an underwriting syndicate led by Goldman, Sachs & Co and UBS Investment Bank, which are serving as joint book-running managers of the offering. Co-managers are Bear, Stearns & Co Inc, Deutsche Bank Securities Inc, and J P Morgan Securities Inc.