New Orleans-based bulker and liner operator International Shipholding Corp (ISH) has completed the sale of $40m in new preferred stock and expects to begin trading the shares from 7 February.

The stock will list on the New York Stock Exchange under the symbol ISH Pr. ISH confirmed today all the shares in the offering was sold.

Underwriter Ferris, Baker Watts Inc has until 28 January to exercise an option to purchase up to an additional $4m of the stock to cover any over-allotments.

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