Shares in Safe Bulkers rocketed Wednesday after the shipowner revealed a preferred share buyback programme.
The shares were up as high as $1.65, or a 32% increase, shortly after the market opening on the New York Stock Exchange before pulling back to $1.30, a 4% increase.
As TradeWinds reported yesterday, the Polys Hajioannou-led company announced a plan to spend up to $20m repurchasing its Series B preferred shares.
Today’s
