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Top Ships shares surge 20.13% premarket after potential $200M+ Dubai real estate acquisition announced.
ByAinvest
Tuesday, Dec 2, 2025 4:19 am ET1min read
Top Ships Inc. surged 20.13% in premarket trading following the announcement of a potential $200 million-plus acquisition of Dubai residential real estate assets from a company affiliated with CEO Evangelos J. Pistiolis. The deal, approved by an independent board committee, grants the company an exclusive option to purchase the portfolio at a 10% discount to fair market value, with a $23.5 million advance payment due by December 31. The move into Dubai’s high-growth real estate market, supported by transparent regulations and global investor confidence, signals strategic diversification beyond its core shipping operations. The transaction remains subject to further due diligence and committee approval, but the premarket rally reflects optimism about the company’s expansion into a resilient asset class.
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