Okeanis Eco Tankers Files for Direct Listing on NYSE

Greece-based Okeanis Eco Tankers Corp. (OET) has submitted a registration statement to the U.S. Securities and Exchange Commission (SEC) to directly list its common shares on the New York Stock Exchange (NYSE).

If approved, OET's shares will be traded on the NYSE under the ticker 'ECO', in addition to their existing listing on the Oslo Børs under the ticker 'OET'. As part of the NYSE listing process, OET plans to transition its Oslo Børs listing from primary to secondary listing.

The purpose of the NYSE listing is to broaden OET's investor base, increase trading liquidity, and gain access to the U.S. market.

OET specializes in the transportation of crude oil and refined products. They operate a fleet consisting of six Suezmax tankers and eight VLCC tankers, all fitted with scrubbers.

OET's CEO, Aristidis Alafouzos, referred to the NYSE listing as a significant milestone that will expand the company's investor base and support their vision of becoming the preferred platform for global investors in the crude oil tanker industry.

Alafouzos stated, 'Our goal is to establish the same level of trust and reliability with the U.S. market that we have successfully achieved with our Oslo listing. The dual listing further strengthens our access to capital markets, reinforces our position in the industry, and presents potential opportunities for value-accretive transactions in the future. Our team is committed to continuing the path we have paved since our IPO in 2018 and executing our strategy to create value for our shareholders.'

The exact timing of the NYSE listing has not yet been determined but is expected to occur in mid-December 2023.

Since the beginning of 2022, OET's shares on the Oslo Børs have surged by over 300%.