After Hafnia, the world’s largest product tanker owner, announced late last year that it was pursuing a secondary listing in the US, the New York Stock Exchange (NYSE) approved the US listing of the company’s common shares.
Hafnia’s common shares are expected to be admitted to trading on the NYSE on April 9 under the ticker “HAFN”, while continuing to be listed on the Oslo Stock Exchange. The company stated that it would retain its primary listing on the Oslo Stock Exchange. The BW Group subsidiary will not issue any new securities in connection with the New York listing.
Due to technical settlement procedures, a trading suspension of the company’s common shares listed on Oslo Bors will be required for a period of time and Hafnia has already requested the trading suspension from April 5. It is expected to last for two trading days.
“We believe that being listed on the NYSE will broaden our investor base and enhance our access to capital markets. Our presence in the US market will provide potential new investors direct access to our commercial performance and proven track record of shareholder returns, while also generating increased value for our current shareholders through additional trading liquidity,” said Mikael Skov, CEO of Hafnia.
In a move mimicking other owners, the company publicly filed a registration statement for a New York listing last week. Companies like BW LPG and Okeanis Eco Tankers are some of the owners which pursued similar dual listing plans.
