Shares in LNG shipowner Cool Company (CoolCo) are set to start trading on the New York Stock Exchange today.
The Eastern Pacific Shipping-led company announced the slightly delayed start to NYSE trading on Thursday.
In connection with the US listing, trading in CoolCo’s shares was suspended on the Euronext Growth Oslo on 15 and 16 March.
This suspension was lifted today
CoolCo has changed its Euronext ticker code to chime with its new one for the NYSE.
The company’s shares will be tradeable on both exchanges under the ticker CLCO.
CoolCo said that in connection with the US listing, the company has implemented an
amendment to the registration structure for its shares.
Under this, all the shares will be primarily held and settled within the Depository Trust Company in the US and secondarily held and settled in Euronext Securities Oslo through a central securities depository link.
It explained these settlement requirements necessitated the two-day trading suspension on the Euronext.
CoolCo shares opened at NOK 135.96 in Oslo this morning.
The LNG carrier owner listed in Oslo on 22 February 2022, shortly after it was founded.
The company controls an owned fleet of 12 LNG carriers and currently manages eight LNG ships and nine floating storage and regasification units.
CoolCo has until 30 June to exercise options to buy a pair of two-stroke, under-construction LNG carrier newbuildings.
Eastern Pacific controls a 58% shareholding in CoolCo.
