Capital Maritime Finance debuts on Athens Stock Exchange

Capital Maritime Finance Corp., a container shipping company controlled by Greek billionaire Evangelos Marinakis, has completed its initial public offering on the Euronext Athens exchange, raising 300 million euros.

Despite a broader market decline of over 3% toward the end of the week, the company's shares closed at 7.53 euros on October 23, slightly above the initial offering price. Marinakis stated in an interview with Bloomberg that more than half of the shares were allocated to private investors.

Marinakis noted that this move addresses a 'historical paradox' by providing Greek citizens with direct access to the domestic shipping industry. This marks the first primary listing of a shipping group on the Euronext Athens, following previous listings by Star Bulk Carriers and Safe Bulkers earlier this year. This is the second IPO conducted by Marinakis's holding company, Capital Maritime & Trading Corp., this year, following the March listing of Capital Tankers Corp. in Oslo.