The market sent a resounding vote of confidence in Capital Maritime Finance during the public offering process for the shipping company’s listing on Euronext Athens. According to reports, the amount raised was at least four times the initial target, with total demand surpassing one billion euros. The subscription process, which ran until Wednesday afternoon on Thursday, October 15, attracted strong interest from both Greek and international investors.
The company, backed by Vangelis Marinakis, sought to raise approximately €250,000,000, with a target of reaching €300 million through the issuance of 42 million new shares at an offer price set between €7 and €7.68 per share.
Read more: Capital Maritime Finance: Order book remains open for a second day — what the company is targeting
Capital Maritime Finance: A landmark investor partnership
Capital Maritime Finance has secured commitments from six prominent capital market investors, including companies affiliated with Evangelos Mytilineos, Socrates Kokkalis, Yannis Vardinogiannis, and George Peristeris, for a combined participation of €70 million. This amount has been incorporated into the final offer.
Capital Maritime Finance, with its modern fleet chartered for nearly a decade and a clearly defined dividend policy, is set to become the first shipping company to list exclusively on the Athens Stock Exchange.
It is worth noting that Capital, which has been successfully active in international markets for over 20 years and has raised more than $2.5 billion from capital markets, is making a highly symbolic move with its listing on Euronext Athens. CMF, a member of the broader group, has announced a generous dividend policy, targeting the distribution of dividends to shareholders amounting to 60% to 70% of adjusted net profits for each financial year, payable on a quarterly basis.
The shipping company operates a state-of-the-art fleet of 36 next-generation vessels, with long-term secured revenues of approximately $4 billion, supported by some of the industry’s most reputable charterers and a highly skilled workforce. The fleet consists of high-specification container ships chartered under long-term contracts to leading liner shipping companies.
