John Fredriksen’s Flex LNG has moved a step closer to listing on the New York Stock Exchange, having publicly filed a registration statement on Form 20-F with the US Securities and Exchange Commission.
As announced last month, Flex LNG is going down the route of a direct listing and no new securities will be issued.
The NYSE listing will commence after the SEC completes its review process, and will see the company’s shares traded on both the NYSE and the Oslo Stock Exchange under the ticker FLNG.
“With the successful $300m equity private placement in October, through the Oslo listing, Flex LNG’s entire fleet including newbuildings of 13 large fifth generation two-stroke slow speed LNG carriers, are fully capitalised. Hence, we are not seeking to raise more equity, which is one of the main reasons for doing a direct listing instead of a F-1 IPO,” Oystein Kalleklev, the company’s CEO told Splash in April.
Several shipowners have gone down the direct listing route to Wall Street of late including Grindrod Shipping, Castor Marine and Navios Containers.