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Safe Bulkers Shares Drop After Private Placement

Provided by Dow Jones Sep 9, 2026, 4:55:00 PM

By Chris Wack

Safe Bulkers shares were lower after the company said it has successfully placed 12 million new shares to selected investors who participated in the accelerated bookbuilding process conducted by Piraeus Bank, DNB Carnegie, and Fearnley Securities.

The shares were down 7%, at $8.31, in midday trade. They hit their 52-week high of $9.31 on Sept. 4.

The company, which provides marine drybulk transportation services, said it decided to accept offers for 12 million offer shares, and set the offering price EUR6.70 ($7.79) a share. The placement raised total proceeds of EUR80.4 million.

The company said its chief executive, Polys Hajioannou, has been allocated 1.5 million shares, scaled back from 2 million in his initial subscription to facilitate allocations to other investors.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

September 09, 2026 12:55 ET (16:55 GMT)

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