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DRYSHIPS to raise $500M by selling just 20% stake in Oil Rig unit

|Includes: DryShips Inc. (DRYS), EXM, TBSI

Whats so important about this? That values the Oil Rig unit $2.5B thats more than (NASDAQ:DRYS) total market cap.

The company, based in Athens, Greece, said the money will come from separate share sales. One of its subsidiaries, Ocean Rig UDW Inc., will raise about $500 million by selling shares. DryShips said it will own about 78 to 80 percent of Ocean Rig when the deal is completed.