Ocean Yield launches US listing

Rokke-controlled owner joins BASF, BNP Paribas and others on OTCQX market.

Ocean Yield has been approved for a secondary over-the-counter listing in the US.

The Oslo-listed shipowner, controlled by Kjell Inge Rokke, will trade on the OTCQX Best Market from Tuesday.

It said the international tier of this market is designed for "established, investor-focused" overseas operations that have met high financial standards.

OTCQX is considered by the SEC as an "established public market", it added.

Ocean Yield CEO Lars Solbakken said: "We are pleased to be able to provide a mechanism that facilitates trading in Ocean Yield shares in US dollars.

"This will make it easier for US investors to invest in our stock and improve overall trading liquidity of the shares.

"Ocean Yield is committed to high standards of transparency and the disclosure channels made available through an OTCQX quotation will allow more ready access to information about the company to US investors. "

It joins European companies like Roche, BASF, Allianz, Deutsche Telekom and BNP Paribas in gaining a US presence through OTC Markets Group, formerly known as Pink Sheets.

Companies must have undergone a review by OTC. They are not required to be registered with or report to the SEC, but they must post financial information with OTC.