Tsakos Energy Navigation’s $100m share issue has met with more skepticism on Wall Street.
New York-listed TEN’s market value plummeted after the move was announced yesterday and now one of shipping’s most respected analysts has joined the debate.
Jonathan Chappell of JP Morgan said: “We question the timing of the offering as the stock was trading well below our net asset value forecast of $22 and was only one day (and $0.20)
