The New York Stock Exchange has approved Hafnia’s US listing, paving the way for its shares to begin trading next week.
“We look forward to the completion of Hafnia’s dual listing on the NYSE, marking a significant milestone in our journey,” chief executive Mikael Skov said.
Shares are expected to be admitted to trading on the exchange on 9 April under the ticker HAFN.
The company will maintain its primary listing status on the Oslo Stock Exchange, trading under the ticker symbol HAFNI.
The company will not issue any new securities in connection with the US listing.
“We believe that being listed on the NYSE will broaden our investor base and enhance our access to capital markets,” Skov said.
“Our presence in the US market will provide potential new investors direct access to our commercial performance and proven track record of shareholder returns, while also generating increased value for our current shareholders through additional trading liquidity.”
In March, Andreas Sohmen-Pao’s BW Group sold Hafnia shares for $178m to increase trading liquidity ahead of the US listing.
BW Group now controls around 43% of the company.
To facilitate the US listing and transfer of common shares between the New York and Oslo exchanges, Hafnia intends to change the registration structure for all shares to be primarily recorded and settled within the Depository Trust Company in the US and secondarily settled in Euronext Securities Oslo.
Due to technical settlement procedures, a trading suspension in the company’s shares listed in Oslo will be required in connection with the implementation of the transfer.
The suspension is scheduled to start on 5 April and is expected to last for two trading days.
“As a forward-thinking tanker company, we remain committed to delivering sustainable shareholder value through our active management approach, ensuring we remain well positioned to capitalise on any market opportunities,” Skov added.
