GOGL - Golden Ocean completes its secondary listing on the Singapore Exchange
(Thomson Reuters ONE) -
First dual listing under the cooperation agreement between the Oslo Stock
Exchange and the Singapore Exchange
Golden Ocean Group Limited ("Golden Ocean" or "the Company"), is pleased to
announce that the Company has completed a secondary listing on the Singapore
Exchange (SGX) today.
The company was listed this morning and is the first group to take advantage of
the new scheme to promote dual listings of companies on the SGX and OSE. Both
exchanges signed a Memorandum of Understanding last July to make it attractive
for companies to dual list on each other's bourses.
The cooperation between the two exchanges accelerates the listing process and
reduces the regulatory burden of being listed on two exchanges without
compromising investor protection and good corporate governance.
The listing took place by way of introduction with no new capital raised at this
point, but the company views the Asian investor market as important going
forward.
Mr Herman Billung, CEO of Golden Ocean, said: "We are very pleased to be the
first company to achieve a dual listing in Oslo and Singapore. We already have
a significant operational presence in Singapore and the main driver for our
drybulk business is the fast growing emerging economies in Asia. We look
forward to working with the Asian investor community and are committed to making
our SGX listing a success".
Lawrence Wong, Head of Listings at SGX, added: "Golden Ocean is the first
listing under our cooperation framework with the Oslo Bors. We look forward to
more of similar listings on the two exchanges. By taking advantage of the dual
listing framework, companies will benefit by having the access to a wider and
deeper capital market. Investors of both exchanges too will benefit from more
investment choices."
The Introductory Document released in connection to the listing at SGX is
attached to this press release and is available at the website of Golden Ocean
with address www.goldenocean.no
Hamilton, Bermuda
March 18, 2010
Contact persons:
Herman Billung: CEO, Golden Ocean Management AS
+47 22 01 73 40
Geir Karlsen: CFO, Golden Ocean Management AS
+47 22 01 73 53
About Golden Ocean:
Golden Ocean is involved in the ownership and operation of dry bulk ships, with
focus on ships in the Capesize, Panamax and Kamsarmax classes. The Company owns
or controls 12 ships, has 23 ships under construction for delivery between 2009
and 2012, and has several chartered-in ships. In addition, a major part of the
vessels are contracted under time charter contracts of five years or more. The
Company was established in November 2004 in connection with a de-merger and
spin-off of certain dry bulk activities from Frontline Ltd. In December 2004,
Golden Ocean's shares were admitted to trading on the Oslo Stock Exchange.
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
[HUG#1395079]
Introductory Document: http://hugin.info/135378/R/1395079/351922.pdf
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" alt="MAINLAND RESOURCES, INC. OPERATIONAL UPDATE, SPRING 2010Datum: 17.03.2010 - 20:25 Uhr
Sprache: Deutsch
News-ID 1011545
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contact information:
Contact person:
Town:
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Phone:
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