Norway’s Hoegh Autoliners has completed its “milestone” move to the main market of the Oslo Stock Exchange.
The upgraded listing saw the car carrier owner switch from the Euronext Growth board less than six months after the initial public offering in November that raised $152m at a price of NOK 21 per share.
The stock was trading up 0.85% on Tuesday at NOK 29.55.
“Our commitment to the maritime industry started almost a century ago, so this is a proud moment for Hoegh Autoliners and an important milestone in the history of the company,” said chairman Leif Hoegh.
“Joining the main market of the Oslo Stock Exchange emphasises our strong position and robust business model,” he added.
The company said the listing will expand its exposure to a wider range of investors.
This could further enhance share liquidity, Hoegh Autoliners believes.
The owner is seeking to create long-term shareholder value and position itself for future growth.
“This marks an important step in our long-term commitment to being the leader in zero-emissions shipping and supporting the decarbonisation of our customers’ supply chain,” said chief executive Andreas Enger.
“I would like to thank our people, customers, investors, and partners for contributing to our success. I am impressed with the many achievements we have reached in a short amount of time, which speaks volumes of the company’s people and the effort they have put in to making it all possible,” he added.
Newbuildings programme expanded
Last week, the company extended its series of Aurora-class newbuildings to a potential 16 ships in China.
There are eight firm 9,100-ceu vessels on order, with eight options attached.
The zero-emission-ready units will be the biggest vehicle carriers in the world.
They are being built at China Merchants Heavy Industry (Jiangsu).
