May 15, 2019 / 7:26 AM / a month ago

Klaveness Combination Carriers set to list in Oslo on May 22

OSLO, May 15 (Reuters) - Klaveness Combination Carriers ASA has raised 350 million Norwegian crowns in a private share placement, valuing the shipping firm at 2.27 billion crowns ($259.57 million) ahead of an Oslo stock market listing next week, it said on Wednesday.

Proceeds from the transaction will help pay for the construction of two vessels at China’s Jiangsu New Yangzi Shipbuilding, with scheduled deliveries in the first quarter of 2021, Klaveness added.

Unlike specialised tankers and dry-bulk vessels, combination carriers switch between dry and liquid cargos in a bid to boost utilisation and thus bring down cost.

Klaveness aims to list on the Oslo Axess market, a unit of the Oslo Stock Exchange, on May 22. ABG Sundal Collier ASA, Clarksons Platou Securities AS and SEB Corporate Finance advised on the listing.

$1 = 8.7451 Norwegian crowns Reporting by Terje Solsvik

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