Navios Maritime Partners is looking to sell up to 4.6m units in the master limited partnership, it disclosed late Thursday.
Investors can buy up to 4m shares while an additional 600,000 common units have been offered to the underwriters under a 30-day option. Navios Partners said it expects to use the net proceeds from the public offering to either fund its fleet expansion or for general partnership purposes. Investors did not take too kindly to the news sending the shares down 4.5% in after hours trading to $13.09 each.
Navios Partners operates a fleet of 31 vessels comprised of 23 bulkers as well as eight containerships.
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