Costamare Inc. announced its intent to spin-off its dry bulk business into a standalone public company, Costamare Bulkers Holdings Limited. This strategic separation is expected to result in two distinct publicly traded entities.
The company's board believes this proposed separation will unlock inherent value within both businesses, each possessing unique growth prospects and investment opportunities. The spin-off is anticipated to be completed through a pro rata distribution of Costamare Bulkers Holdings Limited shares to existing Costamare Inc. shareholders.
Shares of the new dry bulk entity, Costamare Bulkers Holdings Limited, are expected to be listed on the New York Stock Exchange. Costamare Inc. aims to complete the spin-off as soon as practicable within the current calendar year, subject to regulatory approvals and final board approval.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.