Shares in BW LPG have climbed 4.3% higher since debuting on the New York Stock Exchange on Monday.
The shares reached $14.60 in midday trading on Tuesday, up from the $14 close of over-the-counter trading last week.
BW LPG chief executive Kristian Sorensen rang the exchange’s opening bell on Monday morning, marking the launch of a dual listing.
“After more than 10 years as a listed company on the Oslo Stock Exchange, today’s dual listing on the New York Stock Exchange marks a new chapter for us,” the company said on LinkedIn.
“We join many of the world’s greatest companies on the NYSE, and we look forward to closer engagement with the investor base in the world’s largest capital market and to seizing new opportunities to build our business and create shareholder value.”
Shares in the company, backed by Andreas Sohmen-Pao’s BW Group, trade under the ticker symbol BWLP.
BW LPG is now the second major VLGC owner on the exchange. The other, Connecticut-headquartered Dorian LPG, has seen its shares dip 1.2% since Friday’s close.
Earlier in April, Dorian chief executive John Hadjipateras welcomed a competitor in the Big Apple.
“I think more people will know about the industry and our business,” Hadjipateras said at the TradeWinds Shipowners Forum USA.
“I’m happy. I’m very happy. I’m also happy we did not do a deal with him a few years ago,” he continued, referring to BW LPG’s 2018 bid for Dorian.
BW LPG is the third BW Group company to take on a dual listing in New York.
A few weeks earlier, BW-backed product tanker owner Hafnia listed its shares on the NYSE.
Late last year, wind farm vessel owner Cadeler secured its place on the exchange through a merger with Scorpio Group-controlled Eneti.
