Greek owner Star Bulk Carriers has been granted permission to delist in Oslo.
The giant bulker company made the announcement it was leaving the Norwegian exchange in April.
The stock's last trading day will be 31 July, it has now revealed.
The delisting will then take effect on 3 August.
Star Bulk said it was making the move after seeing what it considered insufficient trading over two years.
The Petros Pappas-led owner of 116 vessels listed on the Norwegian exchange in July 2018 after buying Songa Bulk's 15 ships, hoping to bring more liquidity to the stock, which has been on New York's Nasdaq Global Select Market since 2007.
That hope did not come to fruition, however, as trading volume averaged around 11,800 per day, according to a regulatory filing.
Too stringent?
Oslo has a reputation as the fast lane for shipowners interested in a public listing.
It is a view the stock market itself has not exactly discouraged over the years as it waves companies through a fast, regulation-light path to other people’s money.
But not everything about trading in Oslo is easier or less transparent than doing business in New York.
TradeWinds reported that more-stringent reporting requirements in the Norwegian capital surrounding buying back and selling shares was one important factor in the Greek shipowner’s decision to terminate its Oslo listing and revert solely to the New York Stock Exchange.
Limited liquidity would have been a problem well known to the company before it elected to begin trading in Oslo.
"Oslo requires different disclosures from the US, and Star Bulk had to satisfy both regimes. They considered it a pain," a source said.
The source added the requirement to disclose share transactions immediately, rather than in a quarterly filing, made share buybacks and at-the-market (ATM) offerings harder to do at an "advantageous price".
"Considering they were getting basically no advantage [in trading liquidity] for this pain, Star Bulk decided to exit," the source said.
