International Shipholding calls all 6% convertible preferred stock

By Jennifer Chiou

New York, Dec. 28 - International Shipholding Corp. announced the Feb. 1 redemption of all 800,000 shares of its 6% convertible exchangeable preferred stock.

The company will redeem the preferreds at $51.00 per share plus accrued dividends up to but excluding the redemption date.

As an alternative, holders may convert their preferred shares into 2.5 common shares until 5 p.m. ET on Jan. 31.

The company's common shares closed at $22.27 per share on Dec. 26.

American Stock Transfer and Trust Co. is the trustee (251 243-9082).

Based in Mobile, Ala., International Shipholding is a provider of international and domestic maritime transportation services.

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