Safe Bulkers (SB) IPO Trades Slightly Higher

May 29, 2008 9:39 AM EDT

The IPO for Safe Bulkers, Inc. (NYSE: SB) is open for trading. The stock is trading at $19.29 after pricing 10,000,000 shares at $19.00 per share, below the expected $20-$22 range.

Safe Bulkers, Inc. is an international provider of marine drybulk transportation services, transporting bulk cargoes, particularly grain, iron ore and coal, along worldwide shipping routes for some of the world's largest users of marine drybulk transportation services.


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