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Ship Finance International (SFL) -5.6% premarket after announcing a public offering of 6M...

Ship Finance International (SFL) -5.6% premarket after announcing a public offering of 6M shares. SFL intends to use net proceeds to invest in new assets within the shipping and offshore sectors and for general corporate purposes.
Comments (3)
  • I like the expansion plans, but obviously this dilutes existing shareholders.
    2 Oct 2012, 02:42 PM Reply Like
  • 2:20pm, down further and may decline another day as well. Not sure if that will make it a buy on the new diluted basis.
    2 Oct 2012, 03:27 PM Reply Like
  • Dilution, based upon 16.00 a share, and the previous existing number of shares, suggests that the additional shares would reduce valuation to about 13.32 a share. That assumes no change in the market cap. I would be tempted to buy more under that level.
    2 Oct 2012, 03:47 PM Reply Like
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