Seaspan Corp has placed millions of stakeholder shares on the proverbial shelf.
The Bing Chen-led owner has registered 38.5 million units held by 13 investors for resale from time to time, according to a prospectus filed with the SEC.
Almost a third — 12 million — of them are owned by Fairfax Financial Holdings. The rest are held by 12 affiliate investors based in the US and overseas.
The shares account for a fraction of Seaspan's 216 million shares outstanding, reflecting $1.83bn in market capitalisation.
Fairfax in January closed the second tranche of its $1bn investment in Seaspan by buying $250m of immediately exercised senior notes and warrants.
Seaspan's fleet consists of 112 boxships.
Its stock gained 2.5% to $8.49 by mid-afternoon.
