Greek capesize owner Seanergy Maritime Holdings is aiming to boost its attractiveness to investors following more securities buybacks.

The Nasdaq-listed bulker company is planning a reverse stock split of its shares to reduce their number and increase the price.

This will be carried out at a ratio of not less than one share for every eight now, and not more than a one-for-12 swap, as Seanergy also tries to make sure it stays above the $1 minimum for a listing.