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Star Bulk Carriers completes Euronext Athens dual listing

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2026-09-18 15:33 UTC → 2026-09-21 04:07 UTC · added ~~removed~~

Star Bulk Carriers, a major dry bulk shipping company listed on the Nasdaq, has completed a landmark dual listing on Euronext Athens. The transaction involved the issuance of 4.4 million new shares at €24.50 per share, raising a total of €107.8 million. AXIA Ventures Group acted as the Lead Advisor, Coordinator, and Main Underwriter. The offering saw significant demand, reaching approximately €656.3 million and oversubscribing the offering by more than six times from over 7,500 investors, including both retail and international institutional participants. Chairman Spyros Kapralos noted that the strong demand demonstrates the “depth and credibility of the Greek capital market.” CEO Petros Pappas, who previously stated the move would support Athens as an international maritime financial center, expressed hope that the listing would encourage other shipping companies to list in Greece and eventually lead to the creation of a dedicated shipping index on Euronext Athens. Following the listing, significant shareholdings were disclosed, including an 11.69% stake held by C. K. Limited (on behalf of various entities including Famatown Finance Ltd) and participation from Danaos Corporation. Euronext CEO Stéphane Boujnah noted that the initiative aims to create a “natural meeting point between Greek businesses and international capital.” This move follows a similar secondary listing by Safe Bulkers and is part of a broader strategic effort to establish Athens as a major capital markets hub for the global shipping industry. Reports suggest at least seven other shipping companies are currently exploring similar listings on Euronext Athens. As the largest listed dry bulk carrier in the United States by market value and the third largest globally in the sector, Star Bulk intends to use the proceeds to fund the acquisition of additional vessels and a shipbuilding program for three Kamsarmax vessels scheduled for delivery in late 2026.

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