Capital Maritime Finance, the container ship company controlled by Greek shipowner Evangelos Marinakis, has raised €300 million in its Athens IPO after investors placed orders worth more than four times the original target.
The offering closed on Thursday 15 October at €7.50 per share, the same price for all investors, the joint coordinators said in a notice to the market. The company sold 40 million new shares.
Valid demand reached 144.7 million shares, worth about €1.09 billion. As a result, the offering was oversubscribed more than 4.34 times.
Capital Maritime Finance had set out to raise about €250 million. In light of the demand, it used an option approved by its board on 2 October to lift the total to €300 million.
A first for the Athens IPO market
Trading in the shares is scheduled to begin on Tuesday 20 October. Capital Maritime Finance will become the first shipping company with an exclusive listing on the Regulated Market of Euronext Athens, the former Athens Stock Exchange.
The Athens IPO also drew record participation from Greek retail investors, alongside institutional investors from Greece and abroad.
It is the third listed company linked to Marinakis. Marinakis is expected to hold around 75% of the company through his private firm, Capital Maritime & Trading Corp.
Piraeus Bank, Euroxx Securities and Eurobank acted as joint coordinators, bookrunners and issue advisers, with National Bank of Greece as joint coordinator and bookrunner.
Fleet of 36 container ships
The company operated 13 container ships as of 30 September 2026. It is also carrying out an investment program of about $1.8 billion to acquire 23 new vessels, with deliveries scheduled through the fourth quarter of 2028.
Once all the ships arrive, the fleet will number 36 vessels. The company will use most of the net proceeds of the Athens IPO to fund part of the cost of the ships still under construction.
The listing comes as Greek owners place record orders for new tonnage. Greek City Times reported earlier this month that Greek ship orders had passed 1,000.
Source: TradeWinds
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