Genco Shipping Cuts Public Offer Size

Thursday, May 22, 2008

Genco Shipping & Trading Ltd. said it has cut the size of its primary and secondary public offering to about 3.7 million shares from 6.3 million, and has priced the offers at $75.47 per share.
The company said it is offering 2.7 million shares and certain stockholders are selling about 1 million shares.
Genco has also granted underwriters a 30-day option to purchase up to 560,600 additional shares to cover overallotments.

Source:  CNN

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