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Navios Maritime Partners plans share issue

Navios Maritime Partners plans share issue
Navios  Maritime Partners plans to issue 5.5m units via a public offering to fund fleet expansion.

The New York Stock Exchange-listed dry bulk shipowner said it planned to offer 5.5m units, and also expected to grant underwriters a 30-day option 825,000 units.

The company said the proceeds from the offering would be used to fund fleet and expansion and for general corporate purposes.

Navios Partners shares closed at $18.13 per unit on Monday, if the offer price is the same it would raise $99.7m

The joint book-running managers for this offering are Citigroup, BofA Merrill Lynch, Morgan Stanley and JP Morgan and the co-manager is S Goldman Capital.