Norwegian vessel owner and services provider Solstad Maritime Holding has outlined plans to apply for a listing of its shares on Euronext Oslo Børs during the second quarter of 2025.
The listing is in line with the company’s previously expressed intention to list within 12 months after completion of its $66 million (NOK 750 million) equity raise in June 2024, and supported by its three main shareholders, Aker Capital (42%), Solstad Offshore (27.3%), and AMSC (19.6%).
Solstad Maritime Holding’s listing is expected to facilitate further growth and development of the company’s business, improve its ability to pursue strategic opportunities and provide a liquid market for the company’s shares.
The board of directors of AMSC has informed the company that it intends to propose to distribute its 19.6% ownership stake in Solstad Maritime Holding to its shareholders in connection with a listing of the company, which will contribute to substantially increase the free float in shares.
Completion of a listing is subject to, among other things, approval of a listing application by Euronext Oslo Børs, approval of a listing prospectus by the Norwegian Financial Supervisory Authority, conversion of the company to a public company (ASA), the Company fulfilling applicable listing requirements and certain other conditions. SMH does not intend to carry out a share offering as part of its listing.
“We look forward to delivering on the intention to list the Company on a regulated market, as communicated when the company was refinanced in 2024, and thereby making the share liquid for its shareholders. We continue to experience a healthy market for offshore vessels, which is positive for the shareholders of both Solstad Maritime Holding and Solstad Offshore,” said Lars Peder Solstad, CEO of Solstad Offshore.
Subject to, fulfilling the conditions for completing the listing set out above, the company is expected to have a first day of trading on Oslo Børs during the second quarter 2025. Further announcements relating to the listing will be made in due course.
Solstad Maritime Holding owns 32 vessels, including 22 construction support vessels (CSVs) and 10 anchor handling tug supply vessels (AHTS), and has more than 1,700 employees. It also provides ROV, survey and other additional services to its clients.