NMP aims for $100m

Greece’s Navios Maritime Partners is aiming to raise $101m from a stock sale to fund fleet expansion.

The New York-listed bulker owner said the follow-on offering of 5.5m units would be priced at $17.30 each, compared to a closing price of $18.13 on Monday.

Underwriters have a 30-day option to purchase an additional 825,000 common units.

The offering is expected to close on Friday.

In a recent earnings briefing chief executive Angeliki Frangou said her company has its sights set on containerships but didn’t rule out the possibility of picking up bulkers as well.

Navios Partners is headquartered in Monaco but management is based in Athens.

TRENDING TODAY