Helsinki-based dry bulk shipping specialist ESL Shipping is planned to become an independent company and listed on Nasdaq Helsinki.
ESL Shipping’s parent company Aspo announced on Monday that the board of directors of Aspo has approved a demerger plan concerning the separation of ESL Shipping into a new listed company.
The listing of ESL Shipping Group and the partial demerger of Aspo are conditional on the approvals of the extraordinary general meeting of Aspo Plc, planned to take place on December 7.
All of ESL Shipping’s operations and services continue as usual, according to an announcement issued by ESL Shipping.
ESL Shipping, a subsidiary of Aspo Plc, has a fleet portfolio of around 40 vessels with cargo capacity ranging from 4,000 to 25,000 dwt.
From its side, Aspo said that the board of directors has approved a demerger plan concerning a partial demerger of the company. According to the demerger plan, the company will be demerged in such a way that all shares in ESL Shipping Ltd held by the company, together with the related assets and liabilities, will be transferred to a new independent company to be named ESL Shipping Group and to be incorporated in the demerger.
Aspo intends to apply for the shares of ESL Shipping Group to be admitted to trading on the regulated market of Nasdaq Helsinki. The company’s other business operations would remain with the company following the demerger, and it is intended that the company Aspo be renamed Telko Group in connection with the demerger.
The planned completion date of the demerger is 31 December 2026.
The purpose of the demerger is to implement the divestment of the shipping business carried out by ESL Shipping Ltd and its direct and indirect subsidiaries and related assets and liabilities from Aspo in order to form a new independent group of companies. The parent company will be ESL Shipping Group.
“As two standalone companies, ESL Shipping Group and Telko Group could achieve faster organic and inorganic growth thanks to more tailored financing solutions and targeted capital allocation,” Aspo said in its release.
Trading in the shares of ESL Shipping Group is currently expected to commence on Nasdaq Helsinki on or about 4 January 2027 or as soon as possible thereafter.
