Star Bulk in dive following share sale announcement

Private equity fund-financed Star Bulk Carriers took a dive on Wall Street following the announcement that the carrier would sell common shares for USD 245 million to finance a large number of newbuildings.

US-listed Star Bulk Carriers, which has private equity fund Oaktree as primary shareholder and which could become the biggest bulk carrier in the US, dropped around 25 percent on Wall Street on Friday following the announcement that the carrier would sell shares to finance a significant newbuilding program.

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