Genco stacks shelf
US-listed bulker owner Genco Shipping & Trading has registered to sell securities worth up to $750m.
The Peter Georgiopoulos-led company said in a filing to the SEC that it could offer stock or other instruments for sale from time to time.
The cash would be used to repay or reduce dent or for capital expenditure, working capital and financing of vessel acquisitions or other deals and “business combinations.”
Genco and sister company Baltic Trading have confirmed this year they are merging into a 70-vessel giant with a New York Stock Exchange listing.