AmericasDry CargoEuropeFinance and Insurance

Star Bulk plans reverse stock split

Star Bulk has become the latest listed shipping company to perform a reverse split of its stock to boost the price of its shares, which are listed on the NASDAQ Global Select Market.

The Athens-based company’s shares will be consolidated in a ratio of 1-for-5, and will begin trading on a split-adjusted basis when markets open in the US on Monday, June 20.

The split will reduce the number of Star Bulk’s outstanding common shares from approximately 219.8m shares to approximately 44m shares, the company said.

Star Bulk’s stock is trading at $0.66 per share at the time of writing. Over the past 12 months, the stock has lost around 80% of its value.

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.
Back to top button