News

Hellenic Carriers sails on to AIM

30 November 2007 08:07:00

Hellenic Carriers, which operates a fleet of four dry bulk vessels, started trading on AIM this morning.

Admission to trading followed a placing which raised about £29m at a price of 212p per share, valuing the company at £96.7m.

"The listing of our shares will provide us with the resources for prudent growth through fleet expansion," said chief executive Fotini Karamanlis.

"In addition our flexible chartering strategy, which balances medium to long term charters with reputable customers is structured to benefit from the favourable market conditions in the dry bulk sector whilst generating visible and stable cash flows during the shipping cycle," he added.

Jefferies International is acting as nominated adviser and broker to the company.

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