Genco Shipping & Trading chief executive John Wobensmith is accentuating the positive when it comes to a wholesale sell down of his company's stock by the private equity investors who make up its largest shareholders.
Speaking for the first time on the so-called "Prexit" during a presentation to Noble Capital Markets' 17th annual investor conference, Wobensmith said sales by the likes of Centerbridge Capital Partners, Strategic Value Partners and Apollo Management had taken the insider holding down to a combined 33% from 58% in early December.
