16th listing on Euronext and second listing of the year on Oslo Børs
USD 67 million raised
Market capitalisation of approximately NOK 655 million
Oslo – 28 April, 2023 – Oslo Børs, part of the Euronext Group, today congratulates Stainless Tankers (ticker: STST) on its admission to trading on Euronext Growth Oslo. This is the second listing so far this year on Oslo Børs and the 16th on Euronext.
Stainless Tankers is a relatively new player in the chemical tanker arena. The company owns a fleet of seven stainless steel chemical tankers with an average age of 15 years. The company is backed by UK-based Tufton Investment Management, which today controls a fleet of 113 ships with a total value of USD 1.9 billion.
Earlier this year, Stainless Tankers raised USD 67 million, equivalent to NOK 702 million, to help finance the acquisition of the seven Japanese built chemical tankers.
At opening, the share price was NOK 48.50 per share, based on the closing price on NOTC on 27 April 2023. This corresponds to an estimated market capitalisation of NOK 655 million.
Alex Karakassis, CEO of Stainless Tankers, said: “We are very pleased to deliver on our commitment to list our company’s shares on Euronext Growth Oslo, which will provide our shareholders and new investors with a more liquid market for trading in our shares. We extend our gratitude to the team at Oslo Børs for their excellent support in making this possible.”
About Stainless Tankers ASA
Stainless Tankers ASA is a shipping company specialised in providing seaborne transportation of chemical cargoes worldwide. The Company provides investors with pure-play stainless steel chemical tanker exposure in an investor friendly structure through its fleet of seven stainless steel vessels, each with an approximate total carrying capacity of 20,000dwt. The fleet is managed by Tufton Management Limited, with a primary focus on maximizing earnings and distributing excess operating cashflow to shareholders.