Star Bulk raises €656 million in Euronext Athens debut

The public offering for the listing of Star Bulk Carriers Corp. (Star Bulk) on the Regulated Market of Euronext Athens was successfully completed. Investor interest was particularly strong, with total funds raised reaching €656 million, oversubscribing the offering by more than six times, while more than 7,500 investors expressed interest.

The final offering price was set at €24.50 per share. A total of 4.4 million ordinary registered shares of the company were offered. The strong participation by institutional and retail investors from Greece and abroad reflects the market’s strong confidence in Star Bulk’s solid fundamentals, resilient business model and growth prospects. At the same time, it confirms the attractiveness of shipping and the Greek capital market as an investment destination.

Trading in Star Bulk shares on the Regulated Market of Euronext Athens will begin on September 16, 2026.

The proceeds raised will be used to complete its shipbuilding programme for three Kamsarmax vessels, which are expected to be delivered in the fourth quarter of 2026. The remainder will be used to acquire additional vessels.

Star Bulk Carriers operates a fleet of 145 bulk carriers valued at $4.5 billion, has a market capitalisation of $3.5 billion, liquidity of more than $500 million and borrowing capacity of between $1 billion and $1.5 billion.

Strong profitability

Star Bulk Carriers recently reported its strongest quarterly results since the second quarter of 2022, driven mainly by higher freight rates in the dry bulk market. Net profit reached $144.9 million, or $1.30 per share, in the second quarter of 2026, compared with a marginal profit of just $39,000 a year earlier.

On an adjusted basis, earnings surged to $134.8 million from $13.2 million, while adjusted EBITDA came to $184.2 million, compared with $68.9 million in the same period last year.

Voyage revenues increased 44.5% to $357.4 million from $247.4 million. TCE revenues rose to $284.6 million from $176.1 million, while the average daily rate nearly doubled to $24,486 from $13,624.

Προτιμώμενη πηγή στην Google

Για να εμφανίζονται περισσότερα άρθρα της Ναυτεμπορικής στις αναζητήσεις σας εύκολα και γρήγορα, πρέπει να προσθέσετε το site στις προτιμώμενες πηγές σας. Μπορείτε να το κάνετε πηγαίνοντας εδώ.