Star Bulk prepares to enter Euronext Athens
Capital Link
Reports point to a €100m share offering in the second week of September, in what would be the largest test yet of the Greek exchange’s pull on domestic shipowners
Star Bulk Carriers, the dry bulk owner led by Petros Pappas, is preparing a parallel listing on Euronext Athens while keeping the Nasdaq quotation it has held since December 2007.
Beta Securities point to September 9 to 11 for the transaction, with €100 million of shares offered alongside the listing. National Bank of Greece and AXIA are reported to be running the deal. Star Bulk has yet to announce the move formally or file a prospectus, so the final structure remains open.
The scale of the company is what gives the move its weight. At the end of the first half of 2026 the fleet numbered 138 vessels of 13.8 million dwt, spanning newcastlemax, capesize, post-panamax, kamsarmax, ultramax and supramax tonnage.
The timing follows a strong set of results. Star Bulk posted second quarter net income of $144.9 million, or $1.30 per share, against a marginal profit of $39,000 a year earlier. First half revenue reached $638.6 million and net income $203.5 million, compared to $478.1 million and $501,000 in 2025. Higher dry bulk freight rates drove the improvement, which produced the company’s strongest quarter since 2022.
Investing in Greece
Safe Bulkers, controlled by Polys Hajioannou, completed the first shipping dual listing on Euronext Athens on June 2, holding on to its New York quotation. By June 19 around 65,000 of its shares were changing hands daily in Athens, roughly a tenth of the New York volume. Two trading venues also opened small pricing gaps between the markets, and arbitrage followed.
SOURCE: CAPITAL LINK
