Tanker firm TORM has actually introduced its strategy to provide its shares on the NASDAQ Stock Market in New York, which TORM anticipates to finish prior to completion of 2017.

TORM plc stated Wednesday that would certainly submit an enrollment declaration with the united state Securities and also Exchange Commission later on today about its straight share listing on theNasdaq TORM’s shares are currently detailed on the Nasdaq Copenhagen.

“The purpose of a dual listing is to provide our investors with the ability to trade their Class A common shares on a USD-denominated exchange and to improve the liquidity in TORM’s Class A common shares over time,” TORM stated in a declaration. “TORM believes that a dual listing will attract further investor interest and provide stronger visibility towards an international investor community, which will strengthen TORM’s strategic and financial flexibility. No new TORM securities will be issued in connection with the direct share listing on Nasdaq New York.”

Following the listing, TORM’s shares will certainly be detailed for trading on both Nasdaq Copenhagen under the sign “TRMD A” and also Nasdaq New York under the sign “TRMD”.

“In 2016, we took the first step towards a US listing when we implemented the Corporate Reorganization and established TORM plc. A US listing is the natural next step for TORM. We remain committed to expanding our investor footprint in the US, and the dual-listing underlines this ambition,” claims Executive Director Jacob Meldgaard.

Founded in 1889, TORM is pure play vessel firm and also a leading service provider of fine-tuned oil items such as gas, jet gas, naphta and also diesel oil. The firm runs a fleet of 77 modern-day item vessels varying in dimension from 35,000 to 110,000 dwt.