Diana Shipping shareholders may not get exactly what they planned in a buyback that has been oversubscribed nearly fivefold, but they will at least get something.
The New York-listed owner plans to repurchase only some of the 12.2m shares that investors tendered in a programme offering to buy only 2.74m units at $3.65 each.
The so-called prorated offer, which expired Wednesday, will provide Simeon Palios-led Diana Shipping with an intended $10m in cash.
