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OW investors sue IPO banks for DKK 500 million

OW Bunker's risky oil speculation was not mentioned in the prospectus, say 30 OW investors. They are demanding DKK 500 million from investment banks that handled the listing of OW Bunker, reports Danish media Børsen.

Photo: OW Bunker

Several unhappy investors in the now-collapsed Danish bunker firm OW Bunker have filed a claim against the two investment banks Carnegie and Morgan Stanley, which handled the company's IPO in March 2014, reports Danish media Børsen.

Around 30 institutional investors from Europe and the US are demanding DKK 500 million (EUR 67 million) in compensation from the banks, confirms partner Erik Bomans from Belgian consultant firm Deminor Recovery Services to Børsen.

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