Navios Maritime Containers is buying up to nine containerships in deals potentially worth a total of $390m, the company has confirmed.

The Angeliki Frangou-led company is buying five containerships in deals worth $244m and has options to acquire another four vessels for $144m.

News of the paper acquisition comes as the Norwegian OTC-listed company unveiled its unveiled the first public version of its own long-mooted New York IPO prospectus.