Star Bulk Carriers Corp., a Greek shipping company, has completed its initial public offering on Euronext Athens, raising €100.4 million net after deducting €7.4 million in listing and offering expenses. The total proceeds amounted to €107.8 million ($124.4 million), split into €105.4 million from a public offering and €2.5 million from a parallel placement for select investors. The shares were listed on Euronext Athens’ Main Market and registered in the dematerialized securities system of Euronext Securities Athens.
The company’s opening price on Euronext Athens was aligned with the prior day’s closing price on Nasdaq Global Select Market, converted using the European Central Bank’s published EUR/USD reference rate. The listing adhered to Regulation S of the U.S. Securities Act for offshore transactions targeting non-U.S. investors.
The funds will primarily support Star Bulk’s vessel fleet expansion. A portion of €57.02 million ($65.8 million) is earmarked for completing the remaining €37.9 million ($43.7 million) of a €94.92 million ($109.5 million) investment plan for three vessels under construction, with completion targeted for 2026. An additional €43.4 million ($50.11 million) will finance new vessel acquisitions—either newbuilds or second-hand ships—by subsidiaries, with deployment expected within 24 months of listing.
The listing marks Star Bulk’s entry into Euronext Athens, broadening its access to European capital markets while maintaining its presence on Nasdaq Global Select Market.
