New York Stock Exchange Approves Hafnia's Common Shares

The exterior of the New York Stock Exchange building
Updated Published

Hafnia, recognized as the largest owner of product tankers globally, disclosed plans for a secondary listing in the United States towards the end of last year, a move that has now been greenlit by the New York Stock Exchange (NYSE).

The company's common shares are slated to commence trading on the NYSE from April 9, using the ticker symbol “HAFN”. This development comes in addition to its existing listing on the Oslo Stock Exchange, which Hafnia will maintain as its primary listing. No new securities will be issued as part of the New York listing by the subsidiary of BW Group.

A temporary trading halt of Hafnia’s common shares on the Oslo Bors is anticipated due to the technicalities involved in the settlement process. The company has already applied for this suspension, which is expected to span two trading days, starting from April 5.

Mikael Skov, CEO of Hafnia, expressed optimism about the new listing, stating, “We believe that being listed on the NYSE will broaden our investor base and enhance our access to capital markets. Our presence in the US market will provide potential new investors direct access to our commercial performance and proven track record of shareholder returns, while also generating increased value for our current shareholders through additional trading liquidity.”

Following the path laid by other maritime firms, Hafnia recently submitted a registration statement for the New York listing. This strategy aligns with the actions of other shipping companies like BW LPG and Okeanis Eco Tankers, which have also opted for dual listings.