Okeanis Eco Tankers Files for Direct Listing on NYSE

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

If approved, OET’s shares will be traded on the NYSE under the ticker “ECO” in addition to the Oslo Børs under its existing ticker “OET”. In conjunction with its listing on NYSE, OET plans to change its listing status in Oslo from primary to secondary listing on Oslo Børs.

The listing on NYSE aims to expand investor reach, enhance trading liquidity, and provide access to the U.S. market.

OET specializes in the transportation of crude oil and refined products with a fleet includes six Suezmax tankers and eight VLCC tankers, all equipped with scrubbers.

OET’s CEO, Aristidis Alafouzos, described NYSE listing as a significant milestone that will expand the company’s investor reach and support their vision of becoming the preferred crude oil tanker platform for global investors.

“Our objective is to cultivate the same level of trust and reliability with the US market as we have successfully established within our listing in Oslo,” said Alafouzos. “The dual listing further enhances our access to the capital markets, solidifies our position within the industry, and offers potential opportunities for accretive transactions in the future. Our team remains committed to continue steering the Company on the path that we have paved since our IPO in 2018 and our strategy to create value for our shareholders.”

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

Shares of OET have soared more than 300% on the Oslo Børs since early 2022.

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