Diana Shipping is making sure that all tendering shareholders get a fair deal in an oversubscribed buyback.
The New York-listed bulker owner is prorating the number of shares it repurchases from them because they offered nearly 5.9 million shares for resale in an offer to buy only up to 3.1 million units.
Diana will buy a certain percentage of each shareholder's offered shares to stay within the buyback limit while allowing each tendering shareholder to sell back at least some of their offered shares.
