CoolCo’s shares start trading on NYSE

CoolCo’s shares started trading on the New York Stock Exchange (NYSE) on March 17.

As previously announced by CoolCo, the company’s shares will be tradeable on both the NYSE and Euronext Growth Oslo under the ticker code “CLCO”.

In connection with the listing, CoolCo also implemented an amendment to the registration structure for its shares whereby all shares are primarily held and settled within the Depository Trust Company in the US and secondarily held and settled in Euronext Securities Oslo, it said in a statement.

The company’s shares on Euronext closed at 128.26 Norwegian krone ($12) on Friday, down 5 percent from the previous close.

CoolCo owns eight TFDE LNG vessels it bought from Golar LNG, but is selling one these carries to Hoegh LNG.

It also owns the four vessels it purchased from Quantum Crude Tankers, an affiliate of its largest shareholder Eastern Pacific Shipping. 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.

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