8.86%C 6.45 22.20%F 2.55 5.20%
Digg
Del.icio.us
Newsvine 
Facebook
Stumbleupon
NEW YORK - TBS International Ltd., which owns and operates a fleet of drybulk carriers, and some shareholders said they will sell a total of 3.4 million shares of the company's common stock.
| TBSI | 4.03 |  -0.67 |
The company will offer 2 million shares, while selling stockholders will offer an additional 1.4 million shares.
Bermuda-based TBS said late Monday it plans to use proceeds for general corporate purposes, such as secondhand vessel acquisitions; the acquisition or construction of new vessels; to repay debt and working capital or capital expenditure additions.
The company's ship transport goods such as grain, iron ore and coal.
The underwriters will have an option to buy an additional 510,000 shares.
Jefferies & Co. Inc. and Banc of America Securities LLC are acting as joint book-running managers for the offering.
TBS International's stock fell $2.31, or 4.4 percent, to $50.50 in electronic premarket trading. The stock closed at $52.81 on Monday.
Major U.S. stock indexes slumped further south midday Monday, further extending this morning's hefty losses which erased last week's f...
China markets opened lower on Tuesday morning as the investors' confidence hit by the signals that global recession are deepening.
A special Iraqi court has sentenced Saddam Hussein's cousin "Chemical Ali" al-Majid to death for his role in the 1991 suppression of a Shiite upr...
|
Get your next web design project done with our los angeles web design team - Best web design with great price.
Building your business and corporate credit for your small business.
Baldwin Linguas:
Translations Interpreting Localization:
English French Portuguese Spanish
Partners   
|
© 2008 The Ibtimes Company. All Rights Reserved. Terms of service | Privacy Policy | Advertising | About Us | Contact Us | Archives
EMAIL
PRINT
RSS
SHARE
