Epic Gas has revealed plans to use an alternative Oslo stock market to secure easier access to capital.
The LPG carrier owner has initiated a process to transfer its listing from the Norwegian OTC market to Oslo Bors’ Merkur Market.
“The listing of Epic Gas on the Merkur Market enables its shareholders to trade their shares via electronic order book trading using the Oslo Bors trading system and thereby providing transparent and up-to-the-minute market information on the company’s shares,” the company said.
Epic Gas is expected to start trading on the Merkur Market in mid-December.
The Merkur Market was launched in January and is similar to London’s Alternative Investment Market (AIM).
Seven companies are currently trading on this platform. Epic Gas will become the first shipping company to use it.
Epic is aiming to facilitate share liquidity and access to the capital markets with the move.
Meanwhile, the company has announced the delivery of another 11,000-cbm LPG carrier, the fifth in its series of eight newbuildings.
It reported a net loss of $5m between July and September, against $0.3m a year earlier.
