International oil company ShaMaran has completed its corporate move from Canada to Bermuda as part of a restructuring that will see its shares trade primarily on the Oslo Stock Exchange.

The company announced that it has completed its continuance to Bermuda and delisted from the TSX Venture Exchange in Toronto. ShaMaran expects its shares to begin trading on Euronext Growth Oslo under the ticker symbol SNM by June 5.

The move marks another example of an international company selecting Bermuda as its corporate domicile while still having operations and investors in multiple jurisdictions.

ShaMaran, which has oil interests in the Kurdistan region of Iraq, said its Oslo listing application has been approved by the Oslo Stock Exchange. The company is also planning a retail share offering of up to the Norwegian krone equivalent of €1 million (about $1.2 million) to satisfy listing requirements.

As part of the transition, the company's shares have been registered with Norway's central securities depository and Swedish depositary receipts have been issued to eligible shareholders.

The company has published instructions for Canadian shareholders to transfer their holdings into the Norwegian securities system so they can be traded on the Oslo market.