Okeanis Eco Tankers shares have been suspended on the Oslo Stock Exchange amid the company’s push for a New York listing.
Shares were last traded at NOK 271.50 ($24.78) on Wednesday, when they closed up NOK 6, or 2.26%.
“The suspension will be lifted in accordance with the announced timeline upon confirmation from the issuer,” the company said in a stock exchange filing on Thursday morning.
The trading suspension, expected to last two days, had been disclosed earlier this week as the crude tanker owner filed with US regulators to start trading on the New York Stock Exchange on 11 December.
Okeanis began the process of a dual listing in November in an effort to “expand our investor reach”, according to chief executive Aristidis Alafouzos. It intends to make its potential New York listing, under ticker symbol ECO, its primary listing.
Its shares will continue trading in Oslo under its current OET symbol.
Shortly after the announcement was made on 2 November, Okeanis shares hit a 52-week high on 6 November, at NOK 335.
Since then, shares have fallen, trading as low as NOK 258.50 after third-quarter earnings fell short of analyst estimates and trailed second-quarter guidance.
Okeanis is one of a handful of companies looking for additional capital outside of Oslo, traditionally a major source of capital for shipowners.
BW LPG is seeking a New York listing, while Gram Car Carriers listed on a US over-the-counter exchange.
Other BW Group companies, BW Ideol, BW Epic Kosan and BW Offshore, have either delisted or are taking steps that could result in their departure from the Oslo Stock Exchange.
