Star Bulk Carriers Corp. officially marked the start of its trading on the Athens Stock Exchange (ATHEX) during a celebratory opening bell ceremony
Welcoming Star Bulk to the market, Mr. Ioannis Kontopoulos, Managing Director of the Athens Stock Exchange, highlighted Athens' growing role as an attractive hub for shipping leaders and high-quality corporations. He expressed strong optimism for Star Bulk's debut, pointing to the recent successful bond issuances and dual listing by shipping peers like Safe Bulkers.
Spyros Capralos, Chairman of the Board of Directors of Star Bulk Carriers Corp., said: “Today, just one day after the 150th anniversary of Euronext Athens, we are here to ring the bell on Star Bulk Carriers' first day of trading. The public offering closed more than six times oversubscribed, with bids exceeding €656 million, demonstrating that the Greek capital market has the depth and the credibility to host the industry in which Greece leads the world.”
Petros Pappas, Founder and CEO of Star Bulk Carriers Corp., said: “I want to thank our new shareholders who trusted us and invested in our company. Today we are opening our shares to the market of the country in which this company was built. What begins today is something larger than us: a shipping ecosystem in the Greek capital market. My hope is that we will soon see the right shipping companies joining this effort, and a maritime index on Euronext Athens.”
It is reminded that Star Bulk completes 20 years of continuous growth, with a fleet of 145 vessels totaling 14.4 million dwt, including ships currently under construction.
The offering price was set at €24.50 per share, with 4.4 million shares issued.
The Market capitalisation was €3.14 billion on the day of listing. The Initial Public Offering (IPO) raised a total of €107.8 million.
The Offering attracted strong demand from international institutional and retail investors, with the Global Placement 6x oversubscribed at the offer price.
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