Navios Maritime Partners is looking to raise upwards of $100m from the capital markets in move aimed at expanding its bulker empire.
The New York-listed owner says it is planning to sell 5.5 million shares in a public offering, which would bring in $102.3m based on a closing price of $18.60 per share.
Another 825,000 units have been set aside for its underwriters, potentially adding a further $15.3m to the war chest.
Navios says the cash has been tagged for fleet expansion and general partnership purposes, according to a statement issued Thursday.
The offering is managed by S Goldman Capital while Citi, JP Morgan and BofA Merrill have been picked as joint book-running managers.
As TradeWinds reported earlier in the day, another US-listed outfit under the Navios umbrella, Navios Maritime Acquisition, is also chasing a Wall Street payday. The tanker owner is looking to raise $400m from a notes issue offered to institutional investors.
Both companies are led by Greek powerhouse Angeliki Frangou.
By Aaron Kelley in Stamford
Published: 23:15 GMT, 07 Oct 10 | updated: 00:20 GMT, 08 Oct 10
http://www.tradewinds.no/drycargo/568302/navios-rolls-the-dice
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BULK - Navios Maritime Partners (NMM):
http://www.navios-mlp.com/home.asp
Børs: NMM
http://www.nasdaq.com/aspx/nasdaqlastsale.aspx?symbol=NMM&selected=NMM
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TANK - Navios Maritime Acquisition (NNA)
http://www.navios-acquisition.com/default.asp
Børs: NNA
http://www.nasdaq.com/aspx/nasdaqlastsale.aspx?symbol=NNA&selected=NNA
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Photo: Navios boss, Angeliki Frangou.
8/10 2010 13:56 fcras 0
34575 Navios er også:
Navios Maritime Holdings (NM)
http://www.navios.com/home.asp
Navios Terminal 100%
http://www.naviosterminals.com/
Kleimar NV 100%
http://www.kleimarnv.com/pub/Category.asp?lang=en&catid=4
Børs: NM
http://www.nasdaq.com/aspx/nasdaqlastsale.aspx?symbol=NM&selected=NM
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Supramax Bulk Carrier "Navios Kypros" 2003 - 55.222 dwt (Navios Maritime Holdings)
14.11.09 - downbound on the St-Lawrence river - Photo: © Alexandre, Lévis, Canada
Navios Maritime Holdings (NM)
http://www.navios.com/home.asp
Navios Terminal 100%
http://www.naviosterminals.com/
Kleimar NV 100%
http://www.kleimarnv.com/pub/Category.asp?lang=en&catid=4
Børs: NM
http://www.nasdaq.com/aspx/nasdaqlastsale.aspx?symbol=NM&selected=NM
-----------------------------------------------------
Supramax Bulk Carrier "Navios Kypros" 2003 - 55.222 dwt (Navios Maritime Holdings)
14.11.09 - downbound on the St-Lawrence river - Photo: © Alexandre, Lévis, Canada
