Toro Corp. Announces The Sale Of The M/T Wonder Sirius For $33.8M With An Expected Net Gain Of $20.9M
Portfolio Pulse from Benzinga Newsdesk
Toro Corp. (NASDAQ:TORO) has entered into an agreement to sell the M/T Wonder Sirius tanker for $33.8 million, with an expected net gain of $20.9 million. The delivery to the new owner is scheduled for the first quarter of 2024, and the gain will be recorded in the same quarter, excluding transaction costs.
January 16, 2024 | 2:10 pm
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Toro Corp. is set to gain approximately $20.9 million from the sale of the M/T Wonder Sirius tanker, which is a significant financial boost for the company.
The sale of a major asset like the M/T Wonder Sirius tanker and the expected net gain of $20.9 million is likely to be viewed positively by investors. This could lead to a short-term increase in the stock price as it reflects the company's ability to efficiently manage its assets and generate profit. However, the actual impact on the stock price will depend on the market's perception of the sale's long-term benefits and the company's future investment plans.
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