Frontline, the Suezmax and VLCC operator in John Fredriksen’s business empire, says it will seek de-listing of its shares on the London Stock Exchange due to low volume of trade in them.
“The company believes that, given the limited liquidity of the ordinary shares, the costs and administrative burden of maintaining the listing on the official list and admission to trading on the main market are disproportionate to the benefits thereof,” Frontline said in a statement.
The delisting will take effect on 2 November, it said.
Shares in the company became listed in London at the turn of the millennium, when it acquired London & Overseas Tankers: a Suezmax tanker company that was listed there. Frontline remains listed on the Oslo and New York stock exchanges.