18 November, 2009
UPDATE 1-Navios Maritime Partners to sell 4 mln units
* To use proceeds to fund fleet expansion * Shares fall 6 pct in after-market trade
Nov 18 (Reuters) - Drybulk carrier Navios Maritime Partners LP (NMM.N) said it plans to publicly offer 4 million common units to fund its fleet expansion and for general partnership purposes, sending its shares down 6 percent in after-market trade.
The joint book running managers for the offering are Citi and J.P. Morgan.
The company will grant the underwriters a 30-day over-allotment option of an additional 600,000 common units, it said in a statement. Navios Maritime Partners LP was formed by Navios Maritime Holdings Inc (NM.N), a seaborne shipping and logistics company. In September, Navios Maritime Partners had publicly offered 2.8 million units at $12.21 apiece.
Shares of Navios Maritime Partners were down 96 cents at $14.84 in trading after the bell. They closed at $15.80 Wednesday on the New York Stock Exchange. (Reporting by Thyagaraju Adinarayan in Bangalore; Editing by Unnikrishnan Nair)
Source: http://www.reuters.com
UPDATE 1-Navios Maritime Partners to sell 4 mln units Added: (18.11.2009)
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