Star Bulk Carriers to Dual-List on Euronext Athens | Mariner News

Star Bulk Carriers is poised for a dual-listing on Euronext Athens, a move slated to begin with a €100 million public offering of shares from September 9 to September 11. This development marks the second instance of a major Greek-owned shipping company pursuing a dual listing in Athens, following Safe Bulkers.

The dry bulk giant, one of the world’s largest independent players in the sector, will maintain its primary stock market listing in New York. This strategy enables the company to tap into both established global capital markets and new local investor bases within Greece and Europe.

According to market sources cited by Naftemporiki, other Greek shipping companies have also been approached regarding similar dual listings on the Athens Stock Exchange. This suggests a concerted effort to attract more maritime capital to the Greek market and could signal an emerging trend among local shipowners.

Star Bulk operates a fleet of almost 150 vessels, both operational and under construction, and has a market capitalisation of approximately $3.5 billion in New York.

In anticipation of the move, Star Bulk has increased its advertising presence in the Greek market, utilizing full-page press advertisements and television spots. This targeted campaign aims to enhance local brand recognition and investor interest ahead of the public offering, proactively engaging potential shareholders in its home market.

The process is reportedly underway, with the offering dates set for the second week of September.