June 22 (SeeNews) - Greek shipping company Star Bulk Carriers Corp said it is launching a secondary public offering of just above 2.38 million common shares, with the units being sold by US investment management firm Oaktree Capital Management LP.
Oaktree Capital currently holds a stake of 27.75% in the Athens-headquartered firm. Star Bulk Carriers will not receive any of the proceeds from the sale of shares, it said in a press release published Monday.
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The last reported sale price of the common shares of Nasdaq-listed Star Bulk Carriers before the announcement of the offering was $22.13 (18.5 euro) per share on June 18.
Based on 102,239,716 common shares outstanding, the interest to be sold by the US investor stands at about 2.3%.
Established in 2006, Star Bulk Carriers provides worldwide seaborne transportation solutions in the dry bulk sector. It operates a fleet of 128 vessels, with an aggregate capacity of 14.1 million deadweight tonnage. The market capitalisation of the company currently stands at about $2.3 billion.
($ = 0.8400 euro)