Klaveness Combination Carriers (KCC) is planning a move to the main board of the Oslo Stock Exchange to further boost its attractiveness to investors.
The combination carrier owner said it had applied to the bourse to move from Euronext Expand to the main list.
The company expects the first day of trading to be 21 December, subject to approval.
Chief executive Engebret Dahm told Tradewinds: "This is a natural development for KCC and a part of our plan to step by step increase the liquidity and attractiveness of KCC's shares."
He added: "Since listing on Oslo Axess/Euronext Expand in May 2019, the number of shareholders has increased from around 110 to around 830 today and the liquidity of KCC's shares has improved."
Share price on the up
The shares were trading at NOK 47.40 ($5.22) in Oslo on Tuesday, up 0.4%. The stock began the year at NOK 37.
KCC now has a market capitalisation of NOK 2.48bn.
The company has benefitted from the efficiency of running ships as both dry and wet carriers, reducing ballast legs.
In October, KCC sold its first ever vessel as it eyes a fleet renewal.
The 72,600-dwt panamax-sized Cabu combination carrier Banasol (built 2001) will be delivered to Chinese interests this month.
Brokers put the sales price at about $13.7m, while VesselsValue assesses the ship as worth close to $15m.
The vessel, which operates in both dry and wet trades by carrying dry bulk and caustic soda, was one of three Cabus delivered to KCC in 2001 by Oshima Shipbuilding in Japan.
