The New York-listed containership owneron Tuesday priced 7 million shares at $14.00 a piece and said it expects tobank gross proceeds of around $98m.
Equity analyst Michael Webber says he is“somewhat surprised” by the timing of the offering as the Athens-based companyalready has what he described as a “substantial” cash balance.
When the dust settles he believesCostamare will boast a war chest worth nearly $350m, a figure that includes$100m raised during a similar share exercise last March.
"Weexpect
