Greek dry bulk owner Safe Bulkers has cleared the final regulatory hurdles for a dual listing of its shares on Euronext Athens, marking another step in the company’s effort to broaden its access to European investors.
Background
The New York-listed company said Euronext Athens confirmed that all listing requirements for the admission of its common shares had been met, subject to approval of the prospectus by the Hellenic Capital Markets Commission (HCMC). The HCMC approved the prospectus on May 27, paving the way for trading in Safe Bulkers shares to begin on the Greek market on June 2.
Benefits of Dual Listing
The dual listing is expected to help broaden access to institutional investors active in the European market while improving trading liquidity and strengthening the company’s profile within the maritime sector. Safe Bulkers has traded on the New York Stock Exchange since May 2008 and currently operates a fleet of 45 dry bulk vessels, while holding an orderbook of 11 newbuildings with a combined carrying capacity of about 1m dwt.
- The company said the Athens listing would complement its existing US presence and allow it to build stronger relationships with European investors.
- Piraeus Bank acted as listing adviser on the transaction, while Potamitis Vekris served as Greek legal counsel and White & Case acted as global legal counsel.
Impact on the Greek Capital Market
The listing also comes at a significant moment for the Greek capital market following the transformation of the former Athens Stock Exchange into Euronext Athens earlier this year. The rebranding followed Euronext acquiring a controlling 74% stake in Hellenic Exchanges in late 2025, bringing Greece into Europe’s largest exchange network alongside markets in Paris, Amsterdam, Milan, Oslo, Brussels, Dublin and Lisbon.
Euronext said the integration gives Greek-listed companies access to a broader international investor base and a larger liquidity pool spanning more than 1,800 listed companies across Europe.