Danish shipowner Torm has announced plans to file for registration with the US Securities and Exchange Commission today for a direct share listing on the Nasdaq Stock Market in New York.
The Nasdaq listing is expected to be completed before the end of the year, leaving Torm common shares to be traded in both Copenhagen and New York.
Jacob Meldgaard, executive director at Torm, commented: “In 2016, we took the first step towards a US listing when we implemented the Corporate Reorganization and established TORM plc. A US listing is the natural next step for TORM. We remain committed to expanding our investor footprint in the US, and the dual-listing underlines this ambition.”
Torm says the dual listing will attract further investor interest and provide stronger visibility towards the international investor community.
Torm also released its third quarter results today, posting a loss of $4m.