The Greek Ioannis A. Alafouzos-led company Okeanis Eco Tankers is aiming to broaden its investor reach with a listing on the New York Stock Exchange.
The Greek company has filed for direct listing on the New York Stock Exchange with the aim to expand investor reach, enhance trading liquidity, and provide access to the U.S. market.
The shipowner told that in conjunction with such listing on NYSE, the company expects that its listing on Oslo Bors will be amended from the current primary listing to a secondary listing on Oslo Bors.
Following a listing on US stock market, the owner will be subject to tender offer rules set out in the U.S. securities laws and regulations.
Okeanis Eco Tankers is a tanker company providing seaborne transportation of crude oil and refined products, listed on Oslo Bors under the symbol OET, and its sailing fleet consists of six modern scrubber-fitted suezmax tankers, and eight modern scrubber-fitted VLCC tankers.
OET’s CEO, Aristidis Alafouzos, described NYSE listing as a significant milestone that will expand the company’s investor reach and support their long-term vision of becoming the preferred crude oil tanker platform for global investors.
Aristidis Alafouzos, chief executive of OET, said: “This marks a very important milestone in OET’s journey. We believe that a listing on the NYSE will expand our investor reach and facilitate our long-term vision of becoming the listed crude oil tanker platform of choice for investors globally. We wish to provide US investors the access to our fleet, commercial performance, and track record of returning value to our shareholders, as well as unlock enhanced trading liquidity for existing investors.
“Our objective is to cultivate the same level of trust and reliability with the US market as we have successfully established within our listing in Oslo. The dual listing further enhances our access to the capital markets, solidifies our position within the industry, and offers potential opportunities for accretive transactions in the future. Our team remains committed to continue steering the Company on the path that we have paved since our IPO in 2018 and our strategy to create value for our shareholders”.
The resolution by Oslo Bors is subject to, and shall take effect from, the listing of the company’s common shares on NYSE and the simultaneous change from primary to secondary listing on Oslo Bors, which is expected to take place during mid-December 2023.
