Diana Shipping's latest attempt to repurchase some common shares has come off exceedingly well.
The Simeon Palios-led bulker owner's offer to buy back 6m shares at $2.50 each has been oversubscribed by 3.71m shares, the company said on Friday. The offer expired on Thursday.
As a result, New York-listed Diana expects to prorate the number of shares bought by each shareholder so that it buys only 6m shares at a total cost of $15m.
