Safe Bulkers is planning a share sale in a bid to raise cash to purchase vessels, the company said Monday.
The New York-listed shipowner said Polys Hajioannou (pictured), its chief executive and largest shareholder, plans to buy some of the shares, either through the public offering or a private placement.
Safe Bulkers did not reveal how much it plans to raise or the size of Hajioannou's planned investment.
Stifel and DNB Markets are acting as joint bookrunning managers on the deal, with Seaport Global Securities acting as a co-manager.
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