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Wilson moves to delist from Oslo

Norway’s Wilson has launched an offer to buy back its own shares as it sets the stage to be delisted from the Oslo Stock Exchange.

The mini-bulker giant, controlled by shipowner Kristian Eidesvik and his family, is looking to buy back close to 4.36m shares at NOK 69 each, for up to NOK300.6m ($30.4m).

The price corresponds to the average price per share that has been traded in the last 12 months. As of January 9, 2023, Wilson has acquired a total of 29,084 shares for nearly NOK2m in accordance with the buyback program that was announced in June last year. The buyback offer will start on January 10 and will expire on January 19, unless extended by the company.

“The board of Wilson has decided to make the buyback offer at this time because, among other things, relatively low liquidity in the shares in the market may limit the company’s shareholders’ ability to sell shares and the board wishes to offer all shareholders to sell shares before the proposed delisting of the company from the Oslo Stock Exchange, and the company’s available liquid funds exceed the short-term cash requirements of the company’s operations,” Wilson said in a release (translated from Norwegian).

The Bergen-based company, which has a fleet of around 130 ships ranging in size from 1,500 to 8,500 dwt, said delisting will be decided in an extraordinary general meeting. The Eidesvik family’s Caiano will not be offering any of its shares for sale.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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