Cool Company owner, operator and manager of LNG carriers is officially trading on the New York Stock Exchange.
The New York Stock Exchange’s newest shipping listing celebrated in style the commencement of trading on the NYSE. The company’s shares are tradeable on both the NYSE and Euronext Growth Oslo under the ticker code “CLCO”.
Chief executive Richard Tyrrell has said that except the dual listing the company has finalised the sale of its vessel Golar Seal for $184.3 million, which shows the “strategic value of such LNG infrastructure assets.”
The shipowner has completed the sale of the “Golar Seal” vessel in a “juicy price” of $184.3 million, and in accordance with the latest information the vessel has been delivered to its new owner.
Richard Tyrrell, CEO of Cool Company said “through the sale of the Golar Seal, the earliest vessel in our fleet to be built, we are demonstrating our disciplined approach to locking in shareholder value. The valuation highlights the re-pricing of the LNG carrier market, and strategic value of such LNG infrastructure assets. A 2.5x cash-on-cash return in little more than 12 months since CoolCo’s formation shows the considerable upside in our fleet.”
In a previous statement released by the company on 20th of February 2023, the CEO of Cool Company pointed out that, the transaction releases approximately $94 million in cash, that will be available in the event the company decides to exercise its option agreement on two highly sought-after Hyundai Samho vessels, now scheduled for delivery ahead of contract in the second half of 2024.
