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An update from Okeanis Eco Tankers Corp. ( (ECO) ) is now available.
Okeanis Eco Tankers Corp. has announced plans to acquire two new Suezmax tankers, contingent upon the successful completion of a new common shares offering aimed at raising approximately USD 100 million. This strategic move is expected to enhance the company’s fleet capacity and strengthen its market position in the crude oil transportation industry. The offering, which will be conducted through an accelerated bookbuilding process, is designed to provide the necessary capital for the acquisitions and potentially support other corporate purposes if the acquisitions do not proceed. The company’s board believes that this approach will enable them to raise equity efficiently and at a lower discount compared to a rights issue, thereby benefiting the company and its shareholders.
The most recent analyst rating on (ECO) stock is a Buy with a $44.00 price target. To see the full list of analyst forecasts on Okeanis Eco Tankers Corp. stock, see the ECO Stock Forecast page.
More about Okeanis Eco Tankers Corp.
Okeanis Eco Tankers Corp. is a prominent international tanker company specializing in the seaborne transportation of crude oil and refined products. Established in 2018 under the laws of the Republic of the Marshall Islands, the company operates a fleet of modern scrubber-fitted Suezmax and VLCC tankers, and is publicly traded on both the Oslo Stock Exchange and the New York Stock Exchange.
Average Trading Volume: 165,743
Technical Sentiment Signal: Buy
Current Market Cap: $1.22B
For an in-depth examination of ECO stock, go to TipRanks’ Overview page.