LNG shipping company CoolCo seeks NYSE listing
Bermudian-based Cool Company Ltd, the liquefied natural gas shipping company, has filed a registration statement with the US Securities and Exchange Commission, with the intention of directly listing its shares on the New York Stock Exchange.
Subject to the registration statement being declared effective by the SEC, the company’s shares will be registered with the SEC and listed for trading on the NYSE in addition to the Euronext Growth Oslo under the ticker “CLCO” from March 15.
No new CoolCo securities will be issued in connection with the share listing on the NYSE.
In connection with a listing on the NYSE, CoolCo also expects to change its ticker code on Euronext Growth Oslo from “COOL” to “CLCO”.
In order to facilitate transfer of shares between the two trading venues, CoolCo intends to amend the registration structure for its shares whereby all shares will be primarily held and settled within the Depository Trust Company in the United States and secondarily held and settled in Euronext Securities Oslo through a Central Securities Depository link.
CoolCo chief executive Richard Tyrrell said: “By listing on the NYSE, we are expanding our investor base and providing US investors with access to CoolCo’s unique combination of attractive dividends and exposure to the fast-growing global demand for LNG transportation.
“Upon listing, CoolCo will be one of the largest of a limited number of US publicly traded companies that are connecting global markets with LNG, which is crucial to energy security and has an important role in the global transition to a lower-carbon future.
“Our new presence in the US market will generate immediate value for all CoolCo shareholders by providing easier access to CoolCo shares and additional trading liquidity.
“Additionally, the dual listing further strengthens CoolCo’s financial flexibility, supplementing our strong balance sheet, significant internal cash generation and proven access to competitively priced debt in ensuring that we are well positioned to seize attractive growth opportunities in a prudent manner that maximises shareholder value.”
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service