AmericasFinance and InsuranceTankers

OSG readies its listing on the NYSE

Overseas Shipholding Group (OSG) has finalised its plans for listing its Class A common shares on the NYSE MKT.

Shareholders of OSG’s Class A common stock and Class B common stock when the market closes on December 3 will receive a dividend of one-tenth of one share of Class A common stock for each share of Class A common stock and Class B common stock they hold at that time.

The Class A stock is expected to list on the market on December 1 with regular way trading expected on December 18, the day after OSG is to distribute the stock dividend.

“The listing is a significant milestone for all of us at the Company and marks an important step in our efforts to improve the trading liquidity of our Class A common stock and further enhance value for our shareholders,” Captain Ian T Blackley, OSG’s president and CEO, said in a statement.

The tanker operator was formerly quoted on the NYSE until 2012, when it declared bankruptcy and lost its listing.

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.
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