Recently established Stainless Tankers of Norway has applied for admission to trading on Euronext Growth Oslo.
The outfit, backed by UK-based Tufton Investment Management, currently trades on the Norwegian over-the-counter market after an IPO in March.
Tufton carried out a $67m private placement in the company to help finance the acquisition of seven Japanese-built 20,000 dwt stainless steel chemical tankers with an average age of about 15 years.
Fearnley Securities and Clarksons Securities acted as joint bookrunners and managers in connection with the private placement, while Macquarie arranged the company’s $65m loan facility.
Following the NOTC listing, the Oslo-based investment bank noted Stainless Tankers would be the only pure-play, listed, chemical tanker shipping player, “offering investors a unique exposure to this segment”.
