Athens-based Okeanis Eco Tankers has successfully priced an offering of 3,239,436 new shares of common stock at a price of $35.50 per share. The company expects the offering to raise gross proceeds of approximately $115 million.
The company stated that the net proceeds will be used as partial consideration for the acquisition of two newbuilding Suezmax vessels. The ships are currently under construction at Daehan Shipbuilding in South Korea and are being acquired from an unrelated third-party seller for $97 million each.
Delivery of the vessels is expected in January 2026, subject to closing conditions. Okeanis noted that if the acquisitions do not consummate, the proceeds may be used for general corporate purposes.
The offering is expected to close on or about November 21, 2025. The new shares will be available for trading on the New York Stock Exchange following issuance and settlement. The company's board of directors stated it has considered the offering in light of equal treatment obligations under the Norwegian Securities Trading Act.