Navios Valentines day offering could gross $109mNavios Valentines day offering could gross $109m

The underwriters have been granted a a 30-day option to buy a further 825,000 shares, bringing the potential gross value of the 6.3m share offering to $109m.

The proceeds from the offering, which is expected to close 14 February, are earmarked for fleet expansion and general partnership purposes.

Citigroup, BoA Merrill Lynch, Morgan Stanley and JP Morgan are joint book-running managers for the deal, with the co-managers S Goldman Capital, DVB Capital Markets, ABN AMRO, Global Hunter Securities and Clarkson Capital Markets.