LNG carrier operator CoolCo has almost completed the process of listing its shares on the New York Stock Exchange (NYSE).
Last month, the firm controlled by Idan Ofer’s Eastern Pacific Shipping filed a registration statement with the US SEC, with the intention of directly listing its shares on the NYSE.
The US regulatory review process has now concluded, CoolCo said in an update on March 10.
Following this, the company has filed an acceleration request asking the SEC to declare its registration statement effective on March 14, it said.
In connection with the listing of the company’s shares on the NYSE and to facilitate the transfer of its shares between the NYSE and Euronext Growth Oslo, CoolCo will amend the registration structure for its shares.
The firm said that a trading suspension of the company’s shares will be required in connection with the reregistration process.
Furthermore, the company will change its ticker code on Euronext Growth Oslo from “COOL” to “CLCO” when trading resumes following the trading suspension.
CoolCo is currently finalizing administrative processes in relation to the reregistration process.
Once these processes are concluded, CoolCo said it will confirm the dates for the expected trading suspension and the listing date.
CoolCo owns eight TFDE LNG vessels it bought from Golar and the four vessels it purchased from Quantum Crude Tankers, an affiliate of EPS. These four LNG carriers serve Shell under charter deals.
Besides these owned vessels, CoolCo manages a fleet of third-party vessels and floating LNG infrastructure assets, and is working to buy two newbuild LNG carriers, which are currently under construction at South Korea’s Hyundai Samho, from EPS.
According to CoolCo’s website, EPS has a 58.2 percent stake in the company and public investors hold the rest.
EPS recently bought all of the shares from Golar LNG.