Star Bulk raises €107.8 million in Euronext Athens listing amid strong investor demand

Star Bulk Carriers Corp. raised €107.8 million through its listing on Euronext Athens under the ticker SBLK, drawing strong demand from investors.

According to a statement by Euronext, the listing marks one of the largest share offerings by a shipping company in Greece in recent years, strengthening the role of the Athens market as a source of funding for the shipping industry.

The listing is also the 63rd listing in Euronext markets in 2026.

The offering price was set at €24.50 per share, with 4.4 million new shares issued. Star Bulk’s market capitalisation stood at €3.14 billion on the day of its listing.

The company attracted strong demand from international institutional and retail investors, receiving bids more than six times the shares available at the offer price.

Greek capital market has depth and credibility

Speaking at the listing ceremony, Star Bulk Chairman Spyros Kapralos said the public offering had been more than six times oversubscribed, with bids exceeding €656 million.

The strong demand showed that the Greek capital market has the depth and credibility to accommodate an industry in which Greece is a global leader, he said.

Kapralos also linked the listing to the 150th anniversary of the Athens stock exchange.

Star Bulk founder and Chief Executive Petros Pappas thanked the company’s new shareholders for their confidence, noting that the company was opening its share capital to the market of the country where it was founded.

He described the listing as a starting point for building a shipping ecosystem in the Greek capital market.

Pappas also expressed the hope that other eligible shipping companies would follow suit and that a shipping index would eventually be established on Euronext Athens.

Star Bulk’s fleet

Star Bulk operates in the international transportation of dry bulk commodities, including iron ore, minerals, grain, bauxite, fertilisers and steel products.

According to the statement, upon completion of all scheduled deliveries, the company’s owned fleet will comprise 138 vessels with a combined carrying capacity of 13,750,123 deadweight tonnes (DWT) and an average age of approximately 12.5 years.

The company also has seven vessels under long-term charter agreements.

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