Investor revealed

12 West Capital has emerged as the US investment fund that injected $40m into Diana Containerships this week.
Diana Containerships raised $92m this week.

Diana Containerships raised $92m this week.

Nasdaq-listed Diana Containerships raised $92m from a private placement that also saw Diana Shipping and chief executive Simeon Palios buying shares.

However, the identity of the US fund involved was not previously disclosed.

In a filing with the SEC, it is revealed the move has seen 12 West Capital Fund build a 14.9% stake in the company, while 12 West Capital Offshore Fund has amassed a further 7.6%.

Diana Shipping now has a 26.3% stake in the containership spin-off, while Palios controls a 7.8% stake via his Taracan Investments vehicle.

In a conference call with Investors this week Diana executives explained the long term goal is to have two completely separate public companies.

However, give the present markets Diana Shipping believes the boxship owner’s stock is a good investment, Palios said.

Diana Containerships
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    Diana Containerships has collected $92m from a private placement which has seen Diana Shipping and chief executive Simeon Palios inject cash into the company.

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