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Navios completes previously announced reverse split

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Dry Bulk,

Navios Maritime Partners L.P., an international owner and operator of dry cargo vessels, has announced that the previously disclosed one-for-fifteen reverse split of its common units is completed, effective before the market opens on 21 May 2019.

Based on approximately 164.7 million common units currently issued and outstanding, following the reverse split, the company expects it will have approximately 11 million common units issued and outstanding.

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This article has been tagged under the following:

Dry bulk shipping market